The cross-border online transaction volume of UnionPay cards increased by nearly three times in 2015. Meanwhile, more and more overseas cardholders prefer to use UnionPay cards for online payment, and the online transaction volume of UnionPay cards issued overseas witnessed an increase of six times last year.
According to China e-Business Research Center, the transaction volume of China’s cross-border e-commerce reached 2 trillion RMB, with a year-on-year growth of 43%. Two factors contributed to the rapid increase of the cross-border online transaction volume of UnionPay cards: First, more and more customers get used to paying online. Data from China Internet Network Information Center shows that, by the end of last year, 416 million people in China pay online, which is 112 million more than that of the year before. Second, an increasing number of overseas online merchants accept UnionPay cards. Currently, over 10 million online merchants in about 200 countries and regions outside the Chinese mainland accept UnionPay cards.
In recent years, UnionPay International has continually spread its acceptance footprint online, optimized its services, and improved cardholders’ card-using experiences, by cooperating with the world’s major acquirers, such as WorldPay, PayPal, Global Collect and Adyen. Data from UnionPay International show that iTunes, Amazon USA, Shilla Duty Free in South Korea, Air Asia, Agoda and Booking are all merchants frequently visited by Chinese customers. Moreover, an increasing number of cardholders pay with UnionPay cards online at Turkish visa application website or when applying for UK visa online.
Based on its study on Chinese consumers’ cross-border spending for years, UnionPay International has constructed the website of “Shop The World” (haigou.unionpay.com), which provides considerate services including commodity recommendation, translation and secure payment.
It is very convenient for the Chinese customers to conduct cross-border online payment with UnionPay cards. Meanwhile, overseas cardholders are able to pay online at an increasing number of e-merchants in China. Now, DinoDirect, China Southern Airlines and all Ctrip websites in foreign languages accept UnionPay cards issued overseas. With the continual increase of UnionPay cards issued overseas, as well as the optimization of card-using service system, the online transaction volume of UnionPay cards issued overseas has exceeded that of UnionPay cards issued in the Chinese mainland since last year.
To use UnionPay cards for cross-border online payment, cardholders only need to verify their UnionPay card number, telephone number and other necessary information. UnionPay Online Payment use a self-owned Internet system, providing users with a whole set of security products including protection control, dynamic mobile phone password and information encrypted transmission, therefore can comprehensively ensure the security of cross-border online payment.
For a complete archive of more than 60,000 articles published since 1995 search the CardFlash.com library.