Chinese e-commerce firms should tap local payment systems, executives say

Chiappini pointed out that they estimate that there are around 450 major payment methods around the world, bringing complexity of management as well as regulatory challenges and friction in different markets.

Founded in 2006 and active in China since 2015, PPRO has been dedicated to building globalized payment platforms for businesses to expand worldwide, allowing them to offer more choices at checkout and boost cross-border sales. Seeing great opportunities in China, the company is seeking to expand partnerships with more Chinese businesses for global growth.

"The Chinese market and e-commerce businesses represent a very exciting opportunity internationally. We see great and unique growth of Chinese businesses doing cross-border payments, and they are now dominant within European and Latin American markets in terms of e-commerce," said Eelco Dettingmeijer, chief commercial officer at PPRO.

Taking Latin America as an example, the company shared that about 56 percent of cross-border online purchases made by shoppers in Brazil were from Chinese merchants, and about 43 percent of online purchases made by shoppers in Mexico were from Chinese websites.

"We find it very exciting to work with Chinese merchants. We see huge spikes in sales volume during our cooperation with Alibaba Group since 2016, and a lot of large Chinese e-commerce businesses are very sophisticated in the way of optimizing payments. They're very fast to adopt new trends in payment methods," said Chiappini.