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The only bank card payment option in China, with a higher global transaction volume than Visa
China Union (CUP) is the only interbank network that links all the ATMs of all the banks throughout China. CUP debit card is also the main payment method throughout the country. With RPNpay you get unprecedented access to this market and the wide range features supported by the product.
1 – Select Deposit Method
A. Users select Union Pay
B. Users select their bank
C. Users input deposit amount
2 – eBanking Redirect
A. Users are redirected to their selected bank page
B. Password and 2-factor USB authentication
3 – Confirmation
A. Users provide the account number
B. Users receive and enter mobile phone SMS verification number
A hugely popular mobile payment channel created and supported by the social media giant – WeChat
WeChat Pay is a payment feature integrated into the WeChat app, users can complete payments quickly with smartphones and tablets. WeChat has the ability to meet the wide range of scenarios your customers demand.
More and more Chinese people are traveling abroad. When a buyer purchases a product from an overseas vendor via WeChat Pay, the spot exchange rate will be use to convert foreign currency to CNY. The converted CNY amount will then be deducted from the buyer’s account when the buyer confirms the deal in the app. Once confirmed, the transaction will be processed into the vendor’s account. The merchant benefits from the fact that the buyer can make purchases from the vendor’s account after they return to China.
The Alibaba creation has built on the features of PayPal in order to become a dominant force in the region
The platform has over 400,000,000 users and is backed by the eCommerce giant, Alibaba. They are currently focusing their efforts on international expansion. Their rapid growth is fuelled by many of their key strengths:
More and more Chinese people are traveling abroad. When a buyer purchases a product from an overseas vendor via WeChat Pay, the spot exchange rate will be use to convert foreign currency to CNY. The converted CNY amount will then be deducted from the buyer’s account when the buyer confirms the deal in the app. Once confirmed, the transaction will be processed into the vendor’s account. The merchant benefits from the fact that the buyer can make purchases from the vendor’s account after they return to China.
The two dominant forces for western bank cards, credit cards and digital payments
There are over 3 billion Visa cards in use worldwide with Mastercard not far behind. Their market experience combined is over 100 years – don’t miss out on bolstering your organisation with their expertise.
When we say global, we really do mean worldwide. We allow you to have complete flexibility with when and where you are paid.
We work closely with an extensive network of trusted and licensed remittance companies across the globe. The service is experiencing enormous growth worldwide due to the exemplary features we provide, including:
1. Take advantage of our highly competitive rates to make sure your funds are where you need the m most in no time at all.
2. Ask our team of remittance experts exactly where your funds should go in order to take advantage of global market trends.
