Payment group: Real-time Banking
Payment product id: 869
Founded in 2002 as an attempt at unifying China's various credit card and interbank networks, China UnionPay has become the largest card payment organization (debit and credit cards combined) in the world, based on payment transactions and number of cards issued – it has issued 7 billion cards and is supported in 170 countries. Although the vast majority of Chinese consumers have a preference for Alipay and WeChat Pay, accepting UnionPay cards is an important back up channel to fully cover the preferred payment methods.
China UnionPay & UnionPay International
Worldline enables you to offer different versions of UnionPay. Not only does this include different User Experiences, we also can provide you with the connection you to different schemes:
- China UnionPay: This scheme is making use of the domestic network and will be the route consumers follow when they make purchases at local merchants. This network can process all types of UnionPay cards, as long as they are issued in China
- UnionPay International: This scheme is the international network and is normally the route consumers will follow when they make purchases at non-local merchants. Please note that the card of the consumer must be enabled for cross border processing. Also cards issued outside of China will be processed via this network.
Worldline can accept payments from both networks, allowing you to offer the optimal network based on the location of your customer. This document will give you a comparison with the different integrations and shows you the differences in the UX between the different interfaces.
The connection to the domestic scheme supports the functionality to select the consumer bank and re-directs the consumer directly to the page of the bank. The solution lets you authorize both Domestic & International cards issued in China, giving a significant bump in conversion. On top of this you will be able to benefit from the domestic pricing model.
About the solution
The solution is designed to support 1-off transactions and is making use of a redirect to the bank of the consumer. It is possible to show the bank selection on your own site or leave this up to us and host it on the MyHostedCheckout page. The product is ideal for targeting Chinese consumers. The solution will be able to process cards issued in China, both domestic and international. As a result the solution will support CNY as an authorization currency only. Of course, we will be taking care of the repatriation of the funds and will settle to you in any of our standard remittance currencies. The maximum amount that can be authorized is the equivalent of USD 10,000.
The integration will enhance your connections on several aspects, most importantly:
- Due to the ability to authorize domestic cards the conversion rate will be boosted.
- Your Consumers will be able to make use of the direct connection to our bank, which will give them the User Experience they also have when buying something from a local merchant.
We will be happy to help you get started.Contact us