Cutoff of September 2021, some of the top e-commerce merchant sites in Hong Kong were:
- HKTVmall – HKTVmall is one of the largest e-commerce platforms in Hong Kong. It offers a wide range of products including electronics, household items, groceries, beauty products, and more.
- Zalora – Zalora is a popular online fashion and beauty retailer in Hong Kong. It offers a wide range of products from local and international brands.
- Taobao – Taobao is a Chinese e-commerce platform owned by Alibaba Group. It is popular among Hong Kong consumers for its wide range of products and affordable prices.
- Amazon – Amazon is one of the world’s largest e-commerce platforms and has a significant presence in Hong Kong. It offers a wide range of products, including electronics, books, and household items.
- HKTVMall – HKTVMall is a subsidiary of the telecommunications company, HKT. It offers a wide range of products, including electronics, beauty products, and groceries.
- Goxip – Goxip is a fashion and beauty e-commerce platform that offers a wide range of products from local and international brands.
How important a merchant account helps ecommerce business ?
A merchant account is essential for an ecommerce merchant to accept credit and debit card payments from their customers. Without a merchant account, an ecommerce business would not be able to process online payments and would have to rely solely on other payment methods, such as bank transfers or cash on delivery.
Having a merchant account also enables an ecommerce merchant to securely process and store customer payment information. This is important for building trust with customers, as they need to feel confident that their payment information is being handled safely and securely.
In addition, a merchant account can provide ecommerce merchants with important tools and features, such as fraud detection and prevention measures, chargeback management, and detailed transaction reporting. These features can help merchants manage their payment processing more efficiently and effectively, while also providing them with valuable insights into their business.
Overall, a merchant account is a crucial component of any ecommerce business, as it enables merchants to accept online payments securely, build trust with customers, and manage their payment processing effectively.
What is high risk merchant ?
A high-risk merchant is a business that is considered to have a higher than normal risk of fraud or chargebacks due to the nature of their industry or the way they operate their business. Some examples of high-risk merchants include online gambling websites, adult entertainment, tobacco and e-cigarette sales, firearms and weapons sales, and credit repair services.
High-risk merchants often have to pay higher fees for payment processing and may have difficulty finding payment processors willing to work with them. They may also be subject to additional scrutiny and monitoring by financial institutions and regulatory agencies to ensure compliance with laws and regulations.
If you are considering starting a business in a high-risk industry, it is important to do your research and understand the potential challenges and costs involved. It may be helpful to consult with a payment processing specialist or financial advisor to determine the best course of action for your business.