Introduction of ChinaPay
ChinaPay is a Chinese financial services and online payments subsidiary of China UnionPay (CUP), China’s government-backed inter-bank transfer network and credit card issuer. Founded in 1999, ChinaPay’s nineteen years of operation make it one of the industry’s elder statesmen.
Cross-Border payment products and services
- Cross-Border B2C services:
At present, more than fifty thousand overseas online merchants accept ChinaPay Online Payment. These merchants are based in many countries and regions, including Hong Kong, Macau, Europe, the US, Japan, South Korea, covering fields of retail, online travel booking, and airline reservation etc. ChinaPay payment has the characteristics of convenient, and other characteristics, through multiple security technology and risk monitoring, to ensure the safety of cross-border online payment. Payment scenarios full coverage of personal computers, handheld PAD and mobile terminals, etc.
2. Cross-Border B2B services:
ChinaPay Cross-Border B2B Payment & Service Platform offers comprehensive online payment service for import and export enterprises including global e-commerce, international and local trading enterprises. The platform provides safe, convenient, transparent and efficient of cross-border B2B payment solutions, helps enterprise customers to realize requirements including cross-border online payment, online collection, order management and others, and promotes trade between China and countries or regions around the world.
3. Cross-Border Remittance services:
ChinaPay provides convenient, reliable, and fast cross-border remittance services. Customers outside Mainland China can easily make cross-border remittance to UnionPay cards issued by 14 banks in China through ChinaPay online gateway, including ICBC, BOC, China Construction Bank, Bank of Communications, China Everbright Bank, and Hua Xia Bank. Domestic cardholders can get remittance in RMB and then can make purchases or withdraw cash, and they do not have to handle the payment of remittance and foreign exchange settlement, and vice versa.
4. Tuition fees payment services:
There are various advantages for using ChinaPay abroad, for instance, when tuition is paid with UnionPay card online, the operating procedure can be safer, faster and more convenient and the payment can generally be received within three working days without remittance outlet restrictions. Moreover, when tuition is paid with ChinaPay, the bank card account will be debited in RMB without charging any currency conversion fees. For the universities’ perspective, accept ChinaPay is not only increasing one more tuition payment method, but also will attract a large number of Chinese students.
5. QR code solution
ChinaPay QR codes are now widely used in the B2C, B2B, tuition payment, and cross-border remittance. Now, ChinaPay QR Code payment offers several solutions, among them are the Push Mode (customer uses their mobile App to scan the QR code presented by the merchant to initiate the payment) and the Pull Mode (Merchants use QR code reader to scan the QR code in customer’s App to initiate the payment).