PAY.ON said that it will be able to provide payment providers worldwide with easy access to 145 million active Chinese online shoppers, following the integration of China UnionPay (China CUP) and subsidiary ChinaPay into its PayPipe routing gateway.
The group added that the deal means payment service providers and their merchants in the US, Europe and other parts of the world now get easy technical access to the principal payment procedures of the world’s second largest economy with annual disposable income totaling €290bn and over 145 million active Chinese online shoppers.
PAY.ON said that the integration of China CUP and ChinaPay into PayPipe has opened the gate for payment providers to monthly several million cross border transactions by CUP card customers. Payment service providers (PSPs) and independent sales organisations (ISOs) are linked to both Chinese market leaders via a simple PayPipe integration for global transaction processing. PAY.ON provides also a dedicated link to China CUP for acquiring banks and acquiring processors complying with all necessary technical and formal requirements.
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