BEIJING, April 7, 2021 /PRNewswire/ -- JD Global Sales under JD.com, a leading technology driven e-commerce company transforming to become the leading supply chain-based technology and service provider，and Visa Inc. (NYSE: V), the world's leader in digital payments, have signed an agreement to deepen cooperation in cross-border eCommerce.
Under the partnership, JD Global Sales and Visa agreed to jointly launch an online merchant subsidies program, targeting consumers across Hong Kong, Macau, Taiwan and overseas markets. The program aims at facilitating the overseas expansion of Chinese brands and merchants, helping them recover from the COVID-19 epidemic at a faster pace with optimized cross-border products and services, as well as driving cross-border eCommerce growth post-the pandemic. With special offers tailored for Visa cardholders, the program will help connect JD customers worldwide and provide them with easy access to a wide selection of products and services from JD, while ensuring a fast, secure and frictionless payment experience.
The partnership will allow JD Global Sales and Visa to further explore Hong Kong, Macau and Taiwan markets and address the growing consumer demand for cross-border eCommerce in the region by strengthening local infrastructure development and co-creation. With the adoption of Visa's tokenization technology, JD Global Sales will promote "one-click" card binding to JD customers, enabling a securer, more convenient and more seamless cross-border online shopping experience for mobile payment users. In addition, with a focus on enterprise-level customers of JD.com and small and medium-sized businesses (SMBs) in China, the two parties will explore B2B digital solutions to empower their digital transformation and development of cross-border commerce.
"JD.com puts customers first and provides them with quality products and services regardless of where they are," said Chris Choi, Head of Global Sales, JD.com, at the signing ceremony. "As JD Worldwide continues to integrate our supply chain at a global scale, we are laying a solid foundation for improving localized services and logistics. JD Global Sales considers itself a bridge that connects Chinese brands and the world and act as a solid backing for Chinese companies going overseas. Through the partnership with Visa, we will better serve global markets by leveraging JD's own resources and the global network of Visa to expand internationally."
"2021 is going to be an unprecedented year for eCommerce, and digital platforms will be the new High Street for small and micro businesses (SMBs). Not only can they gain greater exposure and reach potential customers on digital platforms, but also create new service experiences for digital-first customers," said Henry Yang, Vice President, Head of Merchant Sales and Acquiring at Visa Greater China. "At Visa, we take an open partnership approach. We are committed to becoming the trusted engine for commerce by connecting buyers and sellers worldwide with our innovative, fast, secure and reliable digital payments network. We are excited to work with JD Global Sales to help China's cross-border eCommerce thrive."
In 2021, the continuous evolution towards integrated commerce is no longer just an emerging trend but a reality. To meet the evolving consumer demands, companies and merchants seek to provide the best customer experience and adopt business strategies to reduce friction, accelerate innovation, and develop multiple channels. Visa's data shows that since January 2020, the total number of Visa cards used for eCommerce transactions worldwide (excluding travel) has increased by 14%. In emerging markets, the growth rate is as high as 100%, driven by net-new eCommerce users in many cases.[1]
Accelerated digital transformation worldwide in the wake of the pandemic is bringing new opportunities for China's cross-border eCommerce business. In 2020, China's cross-border eCommerce trade volume totaled 1.69 trillion yuan, a year-on-year increase of 31.1%, while eCommerce exports were 1.12 trillion yuan, up 40.1% year-on-year.[2] Under the new partnership, JD Global Sales and Visa agreed on moves in 2021 to develop a global commerce ecosystem, in addition to creating financial solutions for cross-border eCommerce scenarios. Giving full play to the global coverage and impact of JD Global Sales and Visa, the cooperation will promote shared resources development and financial empowerment.
Built on the successful partnership in 2019, JD Global Sales continues to be a Visa Partner of Excellence in cross-border trade in 2020. In the new partnership, Visa and JD Global Sales will streamline resources to create added value for the cross-border eCommerce. Visa operates one of the largest electronic payment networks in the world—VisaNet—connecting a total of 3.5 billion Visa cards worldwide and nearly 70 million merchant locations in more than 200 countries and territories. JD Global Sales, as an eCommerce platform of JD.com for global consumers, has seen rapid growth in recent years. In 2020, its business targeting Chinese consumers overseas increased by 2.5 times year-on-year in terms of trade volume, making JD.com a preferred shopping platform for more and more consumers. The two parties will extend the partnership to provide capacity building tools to empower SMB owners in China's eCommerce space, helping them make informed business decisions with confidence and unlock greater potential in the increasingly competitive market.
[1] Visa Inc., Q1FY21 Earnings Call |
[2] Imports & Exports in China, 2020, General Administration of Customs, People's Republic of China, http://fangtan.customs.gov.cn/tabid/1106/Default.aspx |
Abut JD.com
JD.com is a leading technology driven e-commerce company transforming to become the leading supply chain based technology and service provider. The company's cutting-edge retail infrastructure seeks to enable consumers to buy whatever they want, whenever and wherever they want it. The company has opened its technology and infrastructure to partners, brands and other sectors, as part of its Retail as a Service offering to help drive productivity and innovation across a range of industries. JD.com is the largest retailer in China, a member of the NASDAQ100 and a Fortune Global 500 company.
About JD Global Sales (global.jd.com)
Global.jd.com was launched in 2017 for better service to Chinese customers in Hong Kong, Macau, Taiwan and overseas markets. Based on the well-established business infrastructure for transactions, payments, logistics, marketing, and technology built up by the main site JD.com over years, Global.jd.com extended JD's entire ecological model to Hong Kong, Macau, Taiwan and overseas markets in order to provide numerous high-quality products to consumers around the world. In addition, as a bridge connecting Chinese brands and the world, Global.jd.com will serve as a solid backing for Chinese companies going overseas as we can ensure users a full service relying on our own JD International Logistics, JD Financial Payment, localized marketing, and the empowerment of big data. For more information, visit global.jd.com.
About Visa Inc.
Visa Inc. (NYSE: V) is the world's leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company's relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit www.visa.cn.
