AsTech China Payment Solutions Provider accepts Union cards, local Visa and local MasterCard cards from Chinese customers. Once an online merchant is accepted for processing in China, AsTech opens a merchant account which will accept orders in Yuan.
AsTech China Payment Solutions Provider offers the merchant settlement in USD or in EUR. The merchant can receive his funds in any bank in the world where his business account is located.
AsTech China Payment Solutions for Chinese customers is highly secure under PCI-compliance regulations. Chinese customers who wish to pay by debit/credit card will be forwarded to their online banking. Chinese customers login to their highly secure online banking and confirm their payment by credit card or UnionPay debit card.
China’s e-commerce is growing rapidly and there is greater demand for use of China’s payment solutions such as credit cards, debit cards and mobile. . It is expected that within five years the China’s e- commerce market will surpass the US market and become the No. 1 e-commerce market in the world, with the largest credit card and digital payment processing market generating e-commerce activities.
China UnionPay (Chinese: 中国银联; pinyin: Zhōngguó Yínlián), also known as UnionPay (Chinese: 银联; pinyin: Yínlián) or CUP, is an association for China’s banking card industry, operating under the approval of the People’s Bank of China (PBOC), the central bank of China.. It is also the only interbank network in China, excluding Hong Kong and Macau, linking the ATMs of some fourteen major banks and many more smaller banks throughout mainland China. It is also an EFTPOS (Electronic Funds Transfer at Point of Sale) network.
AsTech China Payment Solutions Provider is connected to the China UnionPay interbank network which serves 1.57 million merchants, 2.41 million POS terminals and almost 215 thousand ATM terminals accepting the UnionPay Card in China.