2026 is the first year of the “15th Five-Year Plan”. Chinese companies entering the overseas market have entered a new stage of large-scale development. However, payment checkpoints have become a common problem for many foreign trade and cross-border e-commerce companies.
According to relevant data, the current global average shopping cart abandonment rate is about 70%, of which cumbersome payment jumps and low success rates are one of the core incentives.
Global online retailers lose a total of approximately US$18 billion every year due to payment friction, and the total annual value of abandoned shopping carts can reach US$4 trillion.
Previous research shows that 72% of overseas merchants reported that the payment failure rate for cross-border transactions is much higher than that of local transactions, 5% –
15% of transactions are canceled due to risk control interception, card issuer rejection, multi-page jump failure and other reasons. The payment failure rate in emerging markets such as Southeast Asia and the Middle East is even higher than the average.
Many overseas companies admit that seemingly scattered orders with failed payment may cumulatively cause millions of revenue losses every year.
Therefore, choosing a professional payment service provider with strong compliance capabilities and wide global coverage has become the first choice to reduce order loss.
As a service provider that has been deeply involved in the field of cross-border payments for many years, Oceanpayment has industry security certifications such as PCI DSS Level 1, ISO/IEC 27001:2022, and MPI, a large payment institution license in Singapore. It is a member of Mastercard card issuers and has also reached in-depth cooperation with Shopify and Global Payments, a Fortune 500 company.
Its services cover more than 200 countries and regions, support more than 500 localized payment products, and more than 140 transaction currencies. It can provide integrated solutions for acquiring, card issuance, and fund management for cross-border e-commerce, aviation, travel, gaming and other industries to avoid the loss of orders caused by multiple link jumps.
Relying on an AI and big data-driven risk control system, the company can effectively intercept most fraudulent transactions, and at the same time, combined with localized payment adaptation services, effectively improves the transaction success rate.
Actual measurement data shows that the current average success rate in the cross-border payment industry is about 95%. The actual measured success rate of leading high-quality service providers can be increased by more than 4 percentage points. The corresponding single merchant can reduce hundreds of thousands or even millions of order losses every year.
While optimizing global payment performance, overseas companies should also pay attention to the objective exchange rate fluctuations, refund disputes (rejections) and cross-border fee differences between different channels in cross-border transactions, and cooperate with service providers to establish a complete risk hedging and management system.
As my country’s high-level opening up continues to advance, cross-border payment serves as a digital infrastructure that supports the development of new foreign trade formats, and its service capabilities are directly related to the global competitiveness of overseas companies.
The technical accumulation and practical exploration of professional payment service providers have also provided solid service support for more Chinese companies to successfully expand into the global market.
