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Best way to accept funds from people in china?

Discussion in 'Business & Tax Advice' started by Viltedali, Aug 29, 2009.

  1. Viltedali

    Viltedali Regular Member

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    I'd looking to start offering a service for people in china, and am wondering what is the best/secure/easiest(for them and me)/cheapest way to accept payment.

    I looked into this months ago but forget most of what I learned. I understand that p@ypal isn't used much in china, I know bank transfer is an option but am thinking is too expensive (not sure on the rates), accepting credit cards (but don't want their financial info hosted on my server),

    Would something like auth0rize.net be an option. or not applicable? Still, even if it would work, I'm guessing I'd have to run the credit card through myself as auth0rize.ney doesn't have a chinese language option for their site. Not too convenient, but maybe a way to get started?
     
  2. Sliv3r

    Sliv3r Power Member

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    i do all my payments through Western Union :D
     
  3. Viltedali

    Viltedali Regular Member

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    Thanks for the response.

    I understand that I may not find the perfect solution, but it seems wu would be inconvenient for customers and me, and costly.

    I wouldn't be making much per transaction, so am hoping to keep costs down as much as possible.
     
  4. grafxextreme

    grafxextreme Regular Member

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    You also have to keep in mind the hefty bank exchange rate fees that a processor is going to charge. This can eat up into your profit margins if you're not careful. I'm thinking bank wire may be your best bet. You're still going to get hit with the exchange fee but your money will be safe in your account and not at the whim of someone else.

    If these are suppliers or vendors or regular customers they can set up their own bank account with a U.S. bank and then wire the money from their account to yours.

    Just a thought...
     
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