Hong Kong online small and medium-sized businesses (SMBs) outperformed offline merchants by 160% in overseas markets in 2013, according to PayPal.
Cyber Monday – December 2 - was Hong Kong's busiest selling day last year, James Mirfin, Country Manager of PayPal Hong Kong, Korea and Taiwan said last week in a media briefing.
Cross border trade (CBT) accounted for the significant majority of PayPal's total payment volume in Hong Kong, as local merchants exported goods to buyers around the world, according to Mirfin. Electronics, retail and fashion are the top three purchase categories for cross-border shoppers, he said.
The online payment unit of ecommerce giant eBay registered $6.6 billion revenue in 2013, a 20% year-on-year increase. Three billion transactions were processed last year with total payment volume of $188 billion – rising by 24% year-on-year. Mobile payment volume surged 99% year-on-year to $27 billion. With more than 10 million merchants, PayPal's merchant services business processed $125 billion in total payment volume in 2013, up 29% year on year.
In the media briefing, Mirfin also announced the launch of the PayPal's new guide which covers practical advises for merchants to grow business online.
"Whether they are looking to sell online for the first time, engage shoppers residing beyond their own borders, make their transactions safer, or embrace mobile as part of an effective multi-channel strategy, this brand new guide aims to enable merchants in Hong Kong and across APAC to capture the huge growth opportunities offered by global commerce, particular mobile shopping and cross-border trade," noted Mirfin.