Munich, Germany and Long Beach, N.Y. – February 25, 2016 – PAY.ON, an ACI Worldwide company and global partner for white label payment technology, and Planet Payment, Inc. (NASDAQ:PLPM), a leading provider of international and multi-currency payment processing services, today announced the support of UnionPay eCommerce Payments through PAY.ON’s gateway. Planet Payment is the leading China UnionPay acquirer within PAY.ON’s global payment network.
China UnionPay is one of the largest card brands in the world with over 4.2 billion cards issued worldwide. Through the PAY.ON certification, merchants will now have the ability to accept UnionPay credit and PIN debit cards, and bank transfer transactions online. Planet Payment’s UnionPay solution is ideal for merchants looking to tap into the world’s largest eCommerce market. According to a report from the Chinese Ministry of Commerce, cross-border eCommerce in China is expected to grow 30% in 2016 from a year earlier, topping $1 trillion in value.1
Michael Doron, Managing Director at PAY.ON America said, “We are excited to have Planet Payment offering an end-to-end China UnionPay acquiring and processing solution on our global platform. Chinese cardholders are an extremely important market to any online retailer, and being able to accept UnionPay is crucial to their success.”
“We are pleased to be able to support UnionPay eCommerce payments on the PAY.ON platform,” said Paul Levine, President at Planet Payment Solutions. “In addition to accepting the 4.2 billion UnionPay debit and credit cards, as well as transactions via bank transfer, our solution is multi-currency enabled, allowing merchants to price in foreign currencies like Chinese Yuan, while settling in their own. Through our partnership with PAY.ON, we’ve been able to provide merchants with easy to implement integration tools that remove the complexity of accepting payments from Chinese consumers. Also, our UnionPay SecurePay solution is a fully secure authentication payment method that effectively protects merchants against fraud-related chargebacks.
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