Digital River World Payments

UnionPay: One of the world's most preferred payment methods

Doing business in every market is the new status quo, but keeping up with regional nuances, innovations and distinctive consumer behavior can be a monumental task. With UnionPay, you can reach more customers by offering a popular payment option that can support them in a variety of markets.

UnionPay has the largest number of cards in circulation with more than 5 billion cards in the world, and in 2014, transactions totaled to a staggering $6.6 trillion.1 UnionPay is an essential payment transaction scheme offering for anyone involved in cross-border business. By becoming a global acquirer and partnering with UnionPay International, Digital River World Payments (DRWP) is at the forefront of their expansion and able to offer customers seamless access to markets in every corner of the globe.

Extend your reach—offer this key global payment method

UnionPay is an international card and global phenomenon, providing a relevant payment option to customers anywhere in the world. In addition to being the most prolific card brand in the world, UnionPay is on the ground in the world’s most rapidly expanding market, China, and is gaining popularity all around the world. UnionPay is a global favorite with high quality, cost-effective and sanctioned cross-border transactions, providing a secure and reliable payment option for shoppers in diverse countries. This payment solution is perfect for global merchants who want growing purchasing power. By listing the UnionPay option next to the other card options, you can increase store revenue potential instantly.

Leverage our partnership

As a global acquirer, DRWP offers key benefits to businesses interested in offering UnionPay service and opening up easy payment options to the fastest growing markets in the world. To get started utilizing the credit card payment method, businesses only need to sign an agreement and integrate with Digital River. Then, leave it to us to handle everything from paperwork to configuring merchant setup and activation.

UnionPay Global Payments

UnionPay quick facts:

  • Largest scheme in the world by issued cards and number of transactions
  • $6.6 trillion turn over in 2014, 35 times the volume just 7 years ago
  • 5 billion cards issued around the world
  • 26 million merchants currently accept UnionPay cards with 16 million merchants outside of China
  • A secure and reliable payment option for shoppers
  • A huge global acceptance network with world-class services
  • Fast funding to merchants

Key benefits

  • A single contract – avoid the complications of multiple agreements
  • Unified financial reporting – we offer standard reporting for a clear, cohesive view of the financial numbers
  • Multi-currency settlement – present more than 120 currencies and receive payment in the currency of your choice (USD, EUR, HKD, CNY, SGD with more coming soon)
  • Chargebacks – we handle the entire chargeback process and complete financial reconciliation and reporting, including debits, credits and representments
  • Fast funding – either weekly or daily settlements (depending on volume)
  • Seamless merchant onboarding – we manage merchant registration and configuration, helping you get onboarded quickly and smoothly

The number one card used by the world’s largest population

As the most populous country in the world with a rapidly growing middle class, China is the major player in online purchasing. Online shopping in China has boomed in recent years, with the number of users growing from 140 million in 2010 to 520 million in 2015.2 In 2013, Chinese shoppers spent over $11 billion on cross-border transactions, a number that grows year after year.3,4 This type of growth in ecommerce demands a reliable and secure payment type. Savvy merchants recognize the importance of selling their online goods and services to the Chinese market, and their preferred card to use is UnionPay.

China has the world’s largest population and online consumer market

Consumers in Asia Pacific spend more on ecommerce purchases than those in North America, making it the largest regional ecommerce market in the world. Tiernan Ray of Barron’s predicts that China will soon account for nearly half of all ecommerce worldwide: “China’s ecommerce market has grown 2.9X faster than the U.S. market and 2.5X faster than the overall ecommerce market outside of China. In all, by 2018, we see the $1,315 billion China ecommerce market growing to be 2.7X larger than the U.S. market, making up 45% of global ecommerce.”

China Payment Solutions

China

Full name: People’s Republic of China

Capital: Beijing

Largest city: Shanghai

Population: 1,360,000,000+

Median age: 35

Official language: Mandarin (spoken), Simplified Chinese (written)

Economy

Currency: Renminbi (RMB) and Chinese Yen (CNY)

GDP: $9.24 trillon USD (2013)

GNI per capita: $11,850 USD (purchasing power parity, 2013)

Key factors driving ecommerce revenue growth in China

  • Growth of their middle class – with more disposable income than ever before, China now has more than 300 million middle class citizens.5
  • Broadband Internet access – China has the world’s largest online population, with 130 million residential broadband accounts.5

Internet user profiles

Age 15-24: 27 percent

Age 25-34: 32 percent

Age 35-44: 25 percent

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