Acculynk, the global PIN-debit authentication gateway, is offering U.S. merchants the capability to accept China’s Union Pay PIN debit cards on their Chinese websites using the PaySecure International graphical PIN pad for UPOP authentication.
U.S. e-commerce merchants interested in tapping into the large number of consumers in China must be able to accept Chinese payment methods, as well as authenticate a Chinese cardholder in order to make the sale. PaySecure International provides U.S. merchants the ability to accept and authenticate Union Pay cards with the same PaySecure PIN pad used for internet PIN debit transactions with U.S. cardholders.
Airbnb will be the first U.S.-based merchant to leverage PaySecure International to access the more than 3 billion UnionPay PIN debit cardholders. Chinese customers can now use their UnionPay debit cards to secure accommodations at one of Airbnb’s 300,000 listings worldwide.
Acculynk’s integration with UnionPay goes the extra step, allowing for the transaction to be settled in USD which means PaySecure International allows the merchant to garner new cross-border sales and gain new customers with a minimum investment of resource.
With PayScure, Chinese consumers follow the normal UPOP procedures but without being redirected to a separate site which reduces friction and abandonment and creates a simpler, more streamlined experience for the consumer.
In emerging markets, most cards are PIN debit cards. UnionPay, for example, is the largest card network in the world, according to the Nilson Report, with over 3.5 billion cards issued worldwide, and, of that total, only 300 million are credit cards.
Once PaySecure is integrated, merchants do not have to make any further technical changes to enable incremental international markets.
“The ability to access billions of net new customers is a game changer for growth-oriented merchants,” said Ashish Bahl, CEO Acculynk. “By enabling both in-country and cross-border purchases, we enable the borderless customer, the customer who is seeking to purchase what they want, when they want to, regardless of borders.”
On the Issuer side, the authentication experience is tailored to the regulations and customs of each international market.
“With India’s RuPay and China’s UnionPay cardholders added to our PaySecure network, Acculynk is poised to push well beyond the BRIC markets to debit-centric markets in throughout Pac Asia, Latin America and Europe,” said Bahl.
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