- Apr 08, 2021
- Business Update
JD Global and Visa to form a Partnership in Cross-border E-commerce
JD Global Sales under JD.com, and Visa Inc., the world’s leader in digital payments, have signed an agreement to deepen cooperation in cross-border e-commerce.
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 e-commerce 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 e-commerce 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 e-commerce, 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 e-commerce thrive.”
Henry Yang (left), Vice President, head Merchant Sales and Acquiring at Visa Greater China, and Chris Choi (right), head of Global Sales, JD.com, signed the partnership agreement.
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 e-commerce transactions worldwide (excluding travel) has increased by 14%. In emerging markets, the growth rate is as high as 100%, driven by net-new e-commerce users in many cases.
Accelerated digital transformation worldwide in the wake of the pandemic is bringing new opportunities for China’s cross-border e-commerce business. In 2020, China’s cross-border e-commerce trade volume totaled 1.69 trillion yuan, a year-on-year increase of 31.1%, while e-commerce exports were 1.12 trillion yuan, up 40.1% year-on-year. 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 e-commerce 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 e-commerce. 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 e-commerce 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 e-commerce space, helping them make informed business decisions with confidence and unlock greater potential in the increasingly competitive market.