BANK Online Settlement (BANK Online Settlement and Purchasing TAOBAO products): At the MYANMAR INTERNATIONAL ECOMMERCE EXPO 2017 that arrived yesterday, I stopped by and listened to CB Bank’s online card settlement.
CB Bank’s online card settlement system allows you to use three types of cards: Visa, Master and MPU. CB Bank’s card settlement was launched in 2012 and now more than 100 companies are using the system. Chase Bank or MPU stands for Payment Union. The cost of using CB Bank’s online card settlement system is as follows.
In CB’s online card settlement (bank of america), the fixed fee is $ 100 initially and $ 25 monthly. The variable cost is different from Visa and Master in MPU. If you use MPU, you will be deducted 1% of the fixed fee and 4% of the sales will be deducted. In addition, from the time the user performs the card settlement, the time to top up is 3 days at the MPU. Master and Visa are limited to 7 days (chase bank).
From a system introduction point of view, it is more convenient to use MPU because the settlement fee is lower and the deposit time is shorter. From now on, the online settlement will definitely increase and the number of users of (bank of america) CB Bank’s online settlement will increase. Cardholders are on the rise, so if you would like to participate in an online settlement on your company website or EC site, please visit CB Bank or Bank of America.
(Because the market is noisy with music, my submissions may contain inaccuracies, and policies may change from time to time, and the number of users may change, so I would like to suggest just a few references.)
Do you know about Taobao, the huge online shopping mall in China?
Taobao is an online shopping mall managed by Alibaba. Beyond Amazon, it is arguably the largest online shopping mall in the world. These Taobao products are now available in Myanmar through SHOPMYAR. The steps are easy. Once you find the product you want on Taobao, access SHOPMYAR. Then enter the URL of that product page. All you have to do is follow the purchasing procedures at SHOPMYAR.
The payment system at SHOPMYAR is either credit card or bank transfer. You have to pay for the item with something. Delivery to your doorstep also depends on the location. Shipping costs will be determined based on the weight and size of the item. SHOPMYAR’s service fee can not be found on the site, but if you look at the brochure I received from a trade fair in March 2017, you can buy up to 200,000 kyats. 7% from 200,000 kyats to 500,000 kyats; 5 lakhs to 20 lakhs from 5 lakhs; If you buy more than 20 lakh kyats, you will have to pay 4% taobao usa.
The payment is made in two installments. Shipping within China and SHOPMYAR service fee. If you do not do this, you will have to pay for the product at once, as there will be more orders. Lastly, you have to pay for shipping within Myanmar. Payment deducted when the goods are ready to dispatches. We do not know the tariff list for goods shipped from China to Myanmar or taobao usa.
・ Taobao’s regular sales and profitability Users can buy products that are not available in taobao usa
・ SHOPMYAR charges a service fee depending on the amount purchased.
No one offended. I think this is a very good business model because there are limits on all three sides. (chase bank)