Kiel, 10. Januar 2017– With immediate effect, PAYONE is expanding the types of payment it offers with the incorporation of China’s leading payment-service providers, Alipay and China Union Pay. Both these types of payment are the most widely used by far on the Chinese market. This makes the implementation of Alipay and China Union Pay in the online shops of those retailers who wish to expand into the Chinese market an absolute necessity. Aided by the integration of these types of payment, the internationally-operating payment specialist PAYONE opens the door to the largest e-commerce market in the world. The Chinese economy turns over seven times the amount of revenue through e-commerce compared to Germany. With a strong partner like PAYONE at their side, retailers can profit from the expansion into the Chinese national market thanks to the holistic technical payment process completion that PAYONE offers.

The pooling of the leading types of payment used in China in a single strong PSP such as PAYONE gives retailers the tools to conquer the Chinese market and expand into the wider Asian market. Alipay is used by over 400 million Chinese consumers and is the market leader among Chinese online payment systems, making it an absolute necessity for expanding retailers. Thanks to the integration into PAYONE, European retailers can offer their entire product ranges to their Chinese customers in Chinese currency – Alipay assumes and completes the entire currency conversion process on their behalf. The Alipay Cross-Border E-Payment Service also makes it possible to sell to customers outside China. What is equally an absolute necessity when aiming to conquer the Chinese market is China Union Pay, the only credit-card organisation in the People’s Republic. The growing international acceptance is demonstrated by the fact that approximately 6,500 ATM machines of the Deutsche Bank in Germany already accept China Union Pay cards.

“China is verifiably the top growth market for online commerce. The expansion into the wider Asian market is very tempting, it does involve a great deal of technical effort however. But with respect to payment at least, this is something we can make far simpler”, explains Jan Kanieß, founder and co-CEO of PAYONE. He continues: “With our integration of Alipay and China Union Pay, we are not only opening doors for retailers, we are opening flood gates for more growth.

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About BS PAYONE

BS PAYONE GmbH is one of the leading omnichannel-payment providers in Europe. As a full-service payment service provider, the company offers both standardised and individual payment solutions for point of sale and e-commerce transactions on all devices and across all channels in line with each customer's requirements.

Companies that wish to offer cashless payments to their customers receive from BS PAYONE all products for automated processing of all payment processes from a single source.This includes the acceptance of all common national and international credit and debit cards, alternative payment methods (APMs), POS and self service terminals for stationary trade and the automated and holistic processing of e-commerce and mobile payments. The company provides its customers with the highest degree of quality through the most modern network operations ensuring the highest level of security for the processing of payment data.

BS PAYONE GmbH is headquartered in Frankfurt am Main and employs around 700 employees at nine locations across Europe. The payment-service provider is a subsidiary of the Deutschen Sparkassenverlag, making it part of the Sparkassen Finance Group. BS PAYONE GmbH is licensed by and falls under the oversight of Federal Financial Supervisory Authority (BaFin), and processes more than one billion transactions every year.

In addition to the support provided to numerous Savings Banks (Sparkassen), BS PAYONE works on behalf of more than 255,000 customers in various industries - from small and medium-sized businesses to renowned international key accounts.

 

 

Do you have any suggestions or questions or need additional product information? Please use our press contact. We are happy to assist you:

BS PAYONE GmbH
Susanne Grupp
Lyoner Straße 9
60528 Frankfurt am Main
Germany
Phone: +49 69 6630-5132
susanne.grupp@bspayone.com
www.bspayone.com

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PAYONE supports retailers in entering the Chinese e-commerce market by incorporating Alipay and China Union Pay