NTT Data’s Global Payment Hub will allow China’s ecommerce retail consumers to use China’s local payment options including Tenpay and WeChat Pay, in addition to the current accepted choices of UnionPay, AliPay and all other majoy payment method for online transactions.

NTT DATA’s Global Payment Hub is an international payment service provider that helps global merchants process and manage local and cross-border transactions in multiple currencies for their international businesses through a single platform.

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If offers an offshore settlement service for UnionPay to help global merchants better manage foreign exchange exposure. This service allows merchants outside of China to receive transaction settlement funds at competitive rates outside of the country without having to set up a domestic business entity in China.

Merchants with the need to pay suppliers in China will benefit from receiving settlement funds in the same currency as the Renminbi-denominated transactions to reduce multiple foreign exchange conversions.

“Our new China payment offerings put NTT DATA’s Global Payment Hub in a leading position as an international payment service provider with strong local payment capabilities,” said Tyrone Lynch, CEO, NTT DATA’s Global Payment Hub.

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