Beijing (PingWest)—JD.com, China's third-largest e-retailer by market value, has signed an agreement with Visa 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, driving cross-border e-commerce growth.
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 in China, the two parties will explore business-to-business digital solutions to empower their digital transformation and development of cross-border commerce.
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.