CHINA UNIONPAY HAS FORMED NON-CARD DEALING PLATFORM

AsiaInfo Services
06-09-2011
China UnionPay Has Formed Non-card Dealing Platform

BEIJING, Jun 09, 2011 (SinoCast Daily Business Beat via COMTEX) -- On June 8, China UnionPay launched two business in Beijing, which are UnionPay Online Payment and UnionPay Network Handset Payment. UnionPay shows that this means an open-end non-card dealing platform has been formed.

Through this platform, consumers subscribe commodities through network or by cellphones, and pay them without swiping card and transferring money to the third-party account previously. This guarantees the consumers' interests, and avoids the risk of transferring money.

As for this platform, UnionPay has connected with railway network, in order that customers can buy tickets through network.

Presently, UnionPay has signed related business agreements with 157 banks, and over 60 banks has accessed this platform, containing Chinese chief commercial banks, some foreign banks such as The Bank of East Asia (China) Limited and Citibank (China) Co. Ltd.

UnionPay online payment is neither an exclusive platform nor a rival against the third-party payment. In fact three third-party payment organizations have signed cooperation agreement with UnionPay.

Source: www.yicai.com (June 09, 2011)

KEYWORD: BEIJING INDUSTRY KEYWORD: Internet & Online Services & Media SUBJECT CODE: Internet & Online Services
Online/Direct Banking
SinoCast China Business Daily news
UnionPay Online Payment
UnionPay Network Handset Payment
non-card dealing platform
commercial banks

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