Online banking takes off in China
Posted 10-04-2008 at 10:20 PM by Kerry Finch
China’s population is over 1.325 BILLION people, but, in a country the size of China, whose access to the technology has been for a relatively short period, it would be unreasonable to expect them to all have internet access.
However, over 253 million do! And the incredible thing is, over 84% of them connect via Broadband.
In the past, the main obstacle for many marketers was the poor infrastructure to support credit card processing. There has been a perception that consumers in China are very sober in the shopping habits and prefer to transact in cash. This theory has been dispelled in an article on Forbes.com which explains that it was the slow access to credit cards that prevented more online shopping.
The promising news for online marketers however, is that Chinese banks are now rolling out credit card services to their clients. It estimated that there will be 250 million Chinese people with credit cards by the year 2013. This presents great opportunities for savvy online businesses who are prepared to venture into this market.
The internet, by its very nature, provides a global market for any product or service, and to have your prospects increased by up to 253 million, should not be ignored.
However, over 253 million do! And the incredible thing is, over 84% of them connect via Broadband.
In the past, the main obstacle for many marketers was the poor infrastructure to support credit card processing. There has been a perception that consumers in China are very sober in the shopping habits and prefer to transact in cash. This theory has been dispelled in an article on Forbes.com which explains that it was the slow access to credit cards that prevented more online shopping.
The promising news for online marketers however, is that Chinese banks are now rolling out credit card services to their clients. It estimated that there will be 250 million Chinese people with credit cards by the year 2013. This presents great opportunities for savvy online businesses who are prepared to venture into this market.
The internet, by its very nature, provides a global market for any product or service, and to have your prospects increased by up to 253 million, should not be ignored.
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