Payment service provider Computop has launched China Paygate, which offers card processing, bank transfers and e-wallets, in order to strengthen growth in the region.
"Unlike in the western world, credit cards are not popular for buying online in China. Consumers prefer online bank transfers and e-wallets," explained Ralf Gladis, CEO of Computop.
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The new payment gateway is hosted in Shanghai and grants access to major payment methods and local banks in China – including Alipay, 99bill, China Union Pay and Yee Pay.
"Provided the product fits the market, the booming Chinese economy promises a bright future for many retailers," said Gladis.
China Paygate also offers merchants a least cost routing function that provides a maximum coverage of 100 Chinese consumer banks as well as the lowest fee for each transaction.
"Computop – a Germany-based company – has operated in China for almost three years. We have used our local expertise and understanding to create the new platform and are confident it will open up doors for merchants looking to operate in this marketplace," concluded Gladis.
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By GlobalDataChina Paygate follows on from the launch of Computop Paygate 6.0 earlier this year.
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