Third party payment
Many Payment Gateway platform are dealing with overseas transactions for foreign trade merchants. Many foreign trade newbie listening English and spoken English is not very skilled, when they first received a phone call from foreign client they could barely understand what the clients were saying and they don’t know well how to express what they want to say. The consequence probably be a missing chance of enquiry or deal. Following are some tips for you to handle the calls from foreign trade clients.
1、Before you receive the call, check if the phone number country code is from overseas. If yes, get a pencil immediately for recording convenience. 2、Reply “Hello” politely after get on the call. Normally the client will tell who they want to speak with. If you heard your name, just say “This is XXX speaking”. Or you can say “Excuse me, who is speaking” when the client finish his first sentence. So the client tells you who he is, and you take note of it. Ask again where they come from. Next is to ask what is matter with they. So the client will say what it is about. Generally the phone call is from the person you recently contacted, rarely are new client. If the name and country you can immediately be reminded of then you know what aspects of the phone is about. If you cannot remember, ask what this is about. If you still cannot understand what they are saying then repeat what you heard to confirm if your understanding correct or not. 3、If you don’t have impression of your client name or cannot find relative email, you can ask "Have you sent the email to me before?". Then please listen carefully if it’s “yes” or “no”. 4、If you still cannot tell what the client are saying you should say: “I understand what you said, but could you send an email to me to confirm, please?”. Ask the client if he knows your email address. Then ask him to send you an email regarding what he just talked. This is done to get what he expressed more clearly by email to avoid missing the deal. At last add the line:"Glad to speak with you, goodbye!”.
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Old client marketing for some business owner seems impossible. For online business with Payment Gateway by credit card, for example, the furniture seller or electronic appliance. Some old customers are not likely to buy-back in these stores. We have to admit any method and skill only works on certain areas of business. But I insist one point of view: for most of the categories, we can do the old client marketing. It is necessarily to enhance the store sales records and raise the single visit customer value by old client marketing.
But in the first place there is a question to clear up: what reasons for old client marketing necessity. 1. the more mature of the platform, the more you cost for finding a new client. This will end up same with the offline: obtaining a new client cost far more than maintaining an old client. 2. the platform overall volume has basically reached bottleneck status. The focus will be transfer from “make the cake big” to “make every volume value bring into full play” 3. add customer stickiness by old client marketing will also affect the whole store combined quality score. Establish customer profile and proactively contact: this applies for repeated consuming goods such as: daily necessities, pet goods, infant products and snacks, and so on. This kind of customer profile is setup according to the life experiences and to determine a consumer purchase cycle. Periodically deliver real value to your old client: it is actually content marketing. The real content marketing does not regard the platform as a product issuance place, instead regard it a value transmission platform. Not only product but with video and images, instruction. The better content is to make the customer feel something really valuable. For foreign trade business man or in merchant account credit card payment processor industry, you have to know well the exchange rate. When you are duty, the first thing in the morning is to check the exchange rate of different countries. It is generally as central bank or Bank of China rate as reference. Because foreign trade are processing large quantity of business, a little fluctuation will have a great effect. And this procedure only requires 10 minutes.
The second base work is to maintain your client. It is compulsory lesson for every sales man and it should be started from every single detail. Check your email everyday and client following up schedule to find which clients have not been contacted recently. Send them a greeting email one by one every 2-3 weeks in general. And the email content should be varied according to each client. This to be done for benefits below: 1. Keep in touch with client who have not cooperated, let him remember you. If one day the client is just about to change the supplier and see your email in the mean time, he might take a look at you then it’s your chance. Keep in mind that the email content is brief and slight. Never send a long-winded email. They don’t have that much time to read a bunch of introduction. It will make your client feel antipathy. 2. Keep in touch with your client who had already deal with you. It will improve relationship between. Every after sales service is a opportunity of reorder. And it will strengthen the impression of the client at you and it will do good effect. Same as above, the email to follow up on this should be brief and slight. Remind your old client about considering new order. If you old client receive your email, they may reply you in short time. Some of them may even tell you when they will place new order. This is no doubt the best situation. These things are simple and will no take over too much time but will give good effect. Most of people out of Europe may not familiar with the name Zalando. While in Europe the brand is well-known. The success of Zalando lies in its unique strategy for each country in Europe according to each consuming habit.
It is said that the company will divide the Europe to several regions according to every country purchase habit and geographical location. Each region has unique team responsible for studying consumers’ behavior. And based on the consuming preference in each region, they custom appropriate website pointed at product category and credit card Payment Gateway. Below is what the company’s team observed about different countries’ consumer behavior when they shop online. Swiss is punctual and abide by rule Swiss wake up early than any other countries’ people. They want to visit their client 1 hour ahead of German. Therefore Zalando switcher land team provide service for consumer earlier. Swiss need 30 days to pay for bill, so they clear up every month with other bills. Italian is very changing Italian shopper may add a bunch of stuff to their shopping cart, than delete, Sometimes they add very expensive product but they take them out when they checkout. Spanish and Italian people like cash on delivery. French shopper love promotion Some countries have their own promotional season. For example, France promotion season is regulated by the government. It can be compared to black Friday, which generally lasts for several weeks. During the season, almost all French is purchasing all clothes. British and French love to use credit card British and French consumer used to purchase by credit card, which is very much like American. North Europe goes forefront North Europe shopper acts very civilized and experienced. They often spend money on mobile device. And they now better what is ecommerce. It goes smoothly there most of time. Most of people out of Europe may not familiar with the name Zalando. While in Europe the brand is well-known. The success of Zalando lies in its unique strategy for each country in Europe according to each consuming habit.
It is said that the company will divide the Europe to several regions according to every country purchase habit and geographical location. Each region has unique team responsible for studying consumers’ behavior. And based on the consuming preference in each region, they custom appropriate website pointed at product category and credit card payment. Below is what the company’s team observed about different countries’ consumer behavior when they shop online. Swiss is punctual and abide by rule Swiss wake up early than any other countries’ people. They want to visit their client 1 hour ahead of German. Therefore Zalando switcher land team provide service for consumer earlier. Swiss need 30 days to pay for bill, so they clear up every month with other bills. Italian is very changing Italian shopper may add a bunch of stuff to their shopping cart, than delete, Sometimes they add very expensive product but they take them out when they checkout. Spanish and Italian people like cash on delivery. French shopper love promotion Some countries have their own promotional season. For example, France promotion season is regulated by the government. It can be compared to black Friday, which generally lasts for several weeks. During the season, almost all French is purchasing all clothes. British and French love to use credit card British and French consumer used to purchase by credit card, which is very much like American. North Europe goes forefront North Europe shopper acts very civilized and experienced. They often spend money on mobile device. And they now better what is ecommerce. It goes smoothly there most of time. Mobile payment is very common and increasingly a popularity in China. Nowadays 26% consumers take cash with one less than 100RMB. Other 14% barely take no cash at all. Therefore it is about 40% consumer have no cash with them. And even 74% said they can live up to a month with only 100RMB.
Chinese third party payment clearing association data shows that from 2013 to 2016, non-bank institution payment business process up to 97 billion transactions, of which the compound growth rate is over 195%. Wechat is the main payment method in Chinese daily small transaction processing. As of the first quarter of 2017, Wechat (including international market) has 0.938 billion monthly active users, year-on-year growth reached 23%. Fast food chain, convenient store and taxi are the main places for mobile payment. From age point: the generation after 60s take daily cash about 557rmb, the post-70s take 479rmb, post-80s is 328rmb, while post-90s is only 172rmb. From gender review: Female daily take cash 257rmb, while male take 320rmb. There are 52% consumers said their cash spending account merely less than 20%; 84% people feel easiness even if they have no cash with them. From regional review: Compare to other parts of China, East China and North China mobile payment has the most popularity. Some giant Payment Gateway ever come up with the saying: non-cash society. However the word non-cash is more of a publicizing concept, because it has better secondary transmission effect compared to mobile pay and offline pay. Cash demand has objective and substantial foundation, impossible to be eliminated. Big amount payment is not convenient but for small amount transaction, cash has irreplaceable advantage, of which the most superiority is high flexibility and suitability for almost every scene. In ecommerce foreign trade, we have discussed before that when our client called us to inquire the price, they are not caring just price, they want to know a lot of questions and information, such: payment by credit card security, product quality etc.
The first thing the client concerns about is product quality. To answer your client, many of us may give the following reply: we are qualified supplier who have been running this for 5-6 years with clients from all over the world. I think almost every one can write the above things. If you were your client, do you think you can believe just the words? No real evidence and proof, you client will just give you the money for business? Foreigner like certificate and sample and audit. Give what your client ask for. These are able to be provided by most of manufactures. Actually many smart suppliers have already marked these information on their product image. At least this will rest assure a little bit for your client at unknown things. For sample, except for the big merchandise which is not easy to be sent out, most of products can be sent as sample to your client. However for business we are not sending for free. For low value product, we can send some with their paying the shipping fee. Some client has their own courier user account, who are pleasant to provide this. More and more overseas sellers are willing to fly over to China for examining the goods. That is absolutely alright. We should have confidence with our own product and our factory. Of course some traders may not come there, I don’t think this will be an issue. We cooperate with client based on reputation and quality, no matter how big or small the factory. No one would care you are trader or owning factory, only if you can provide what they want. When we apply for credit card, some of us may have this question: what exactly the difference between union-pay bank and visa or master card. What is the difference between visa and master, etc. What one should we apply.
So let’s take a look at the basic information so we know how to choose the one that best fit for us in credit card Payment Gateway. From regional aspect, union-pay is issued by Chinese card association, Visa and Master are issued by American card association. In the present, domestic bank cards belong to different bank according to the card first number. The card staring in 4 is Visa card, the card starting in 5 is Master card. The card starting in “62”, “60”, “9”are issued by China union-pay association. While, the card staring in “62”and“60 is accorded with the international standard, which can also consumed by card holder at broad. This kind of card is the leading card in recent years by China union pay. From usage aspect, if you only consume at home, union-pay card is the best choice. But if you often go abroad consuming overseas, a Visa or Master card is a must. For the past few years, in order to meet the users’ demand, many banks issued dual-currency card, which combine union-pay and Visa, or union-pay and Master. That way card holder can consume at home with union-pay channel and purchase overseas by Master channel with only one card. Then how we choose between Visa and Master. As a matter of fact, each credit card company has their own features and benefits. They are both card issuer association with long history and huge brand power worldwide. Visa is relative more popular in America and Asia. Master card is relative more popular in Europe. So if you will go to America you can choose Visa. Everybody can make their own choice according to the foreign countries they visit more. If you consume overseas, it is recommended to settle in union-pay channel to avoid quite a bit of currency conversion fee. The main functions provided by the payment gateway include online payment, transaction inquiry, refund, online bank reconciliation, merchant reconciliation, error handling, secondary liquidation, etc. To be careful
On-line Payment Provide customers with online payment function. Customers choose goods on shopping websites, confirm and select payment gateway for online payment function, payment gateway allows customers to choose online bank, and guide customers into payment page of online bank. After the payment is completed, the online bank receives the successful payment notification and forwards it to the shopping website. _Transaction Query Businessmen of shopping websites can log on to the payment gateway to inquire about the transaction results. The content of inquiry includes: order number, transaction date, order content, transaction amount, handling fee, transaction results, liquidation status, etc. _refund_ When a shopping website can not deliver goods, or consumers are not satisfied with the goods, the shopping website can refund through the payment gateway. _online banking reconciliation_ Payment gateway operators download reconciliation files from various online banks and process reconciliation. _error handling_ Payment gateway business personnel according to the results of online bank reconciliation error processing, long money needs to be returned to consumers, short money needs to be recovered or other corresponding processing. _transaction reconciliation_ Businessmen of shopping websites can log on to the payment gateway to download the transaction details for accounting, and process accordingly according to the results of accounting. _secondary liquidation_ After deducting handling fees and refund funds, the payment gateway counts and pays the receivable funds of shopping websites. At the same time, the system is also responsible for returning the refund funds to consumers. _commission distribution_ Payment gateway statistics and payment of charges receivable. For foreign trade salesman, when you have made a lot of effort, which turns out to be a object. Overseas ecommerce depends much on online communicating, and the trust is like based on payment by credit card without paying face to face. Do you think it is the end of it. No, most of time, sale starts from when you are being rejected. You must figure it out if this is a real decline or a delaying tactics,
“Rejection” and “apprehension” are kind of euphemistic statement. In fact it is because you have not exerted your energy to persuade your client to make the final deal. For many times they really want to get more information and guarantee. The “No” said by them are actually “Not now”. We lost client because we have not listened carefully and studied what they really want. Often we heard reject as: · I need to sleep on it; · I also consider another two suppliers; · Your price is too high; · Our budget for this year has been spent out. Contact me next month; · We currently would not like to change our supplier; There are typical rejection from client. Many of us have encountered this. But after being through many times of rejection, I start to realize and learned that what are true rejection: · They think they can buy cheaper and better stuff somewhere else. · They have already determined on some other fancy supplier but they don’t want to say it; · They don’t want to change supplier, and you are not good at listening; · They don’t trust you and you are acting not professional enough. If you can overcome the reject depends on: · Your sales skill; · Your understanding of your product; · How much you know about your client; · The trust built between you and your client; · Your attitude and creation. Anyway you really want to help your client and sincerely insist what you are doing. |
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December 2018
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