Two Shanghai city business-development organizations are attempting to further push online shopping during the Chinese festival season in collaboration with third party online payment provider International Payments Solutions (Shanghai) Ltd.
Jieweng Zhong, marketing manager for the payments provider, tells PaymentsSource that the Shanghai Commission of Commerce and Shanghai Modern Business Promotion Center joined forces for the effort.
The Shanghai Online Shopping Festival will run from Oct. 15 to Dec. 15, primarily emphasizing the convenience of online shopping, Zhong says. “The main reason behind launching this festival is to get traditional businesses to develop e-commerce abilities.”
The organzations also want to promote online shopping with Chinese citizens who may not be comfortable making purchases online. “Our data show that 70% of Chinese Internet users do not use online shopping for the fear of online fraud.”
In conjunction with the festival, International Payments Solutions will provide a payment-processing platform for brick-and-mortar businesses to use in order to accept online payments, with the goal of reaching prospective new shoppers outside of Shanghai, Zhong says.
“We also vigorously promote the safety aspects of online shopping during the time, and conduct awareness programs for consumers on how to pay online and the safety measures they should deploy while shopping online,” says Zhong.
Zhong adds that the festival is expected to attract 100 million online shoppers this fall, potentially generating more than 1 billion yuan (US$15.6 billion or 11.5 billion euros) in sales for participating businesses.
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