China
Collect payments from Chinese consumers using the most popular payment methods.
Paymero supports the most popular and most reliable payment methods for accepting payment deposits from Chinese consumers.
Paymero manages all outbound payments, payouts and refunds via bank transfer due to its speed and reliability.
UnionPay, also known as China UnionPay (CUP) or UPI internationally, is a Chinese financial services corporation headquartered in Shanghai, China. It is considered the largest card network in the world offering mobile and online payments. Also, it is the only domestic bank card organisation in China, with roughly 3.5 billion cards issued.
UnionPay is unique in that it is not only a card scheme, but it is also the main interbank clearing network for all domestic bank transfers. UnionPay also has it’s own mobile wallet which integrates with all cards and bank accounts.
Paymero supports CUP QuickPass and mobile QR scanning.
Simply known as Bank Transfer, it allows customers to make UnionPay bank transfers to merchants.
How it works?
- It skips the Unionpay page and customers log in directly to their bank.
- Customers need to enter their U-key to make the payment and can only be completed using the PC.
- Unionpay Bank Transfer features higher limit of up to CNY 5000 per transaction and higher approval rate.
P2P stands for person to person payments. It is also known as peer-to-peer payments. CUP P2P is similar to bank transfer payment method wherein a customer can transfer funds using their personal account to the provided receiving bank account.
How it works?
- Paymero provides merchant the receiving bank details
- Merchant displays the receiving bank details to the customer
- Customer manually performs fund transfer to the provided receiving bank using their personal account.
China is home to some of the largest mobile wallet providers in the world. The explosion of Alipay and then WeChat Pay have made payments using mobile phones ubiquitous in the country. New mobile wallets including QQ Pay and even CUP’s Mobile Quickpass are all supported.
How it works?
- The merchant displays a QR code on the payment page during checkout.
- The customer scans the QR code using the corresponding mobile wallet app on their mobile phone.
- The mobile wallet provider asynchronously confirms the payment.
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