GERMANY | Computop strengthens its position in world’s second largest e-commerce market with the launch of its local China Paygate solution. A payment gateway that grants access to all major Chinese online payment methods and local acquiring banks in China - including Alipay, 99bill, China Union Pay and Yee Pay.
Merchants to benefit from local processing
Computop's Paygate solution is hosted in Shanghai within the boarders of the fast domestic Chinese Internet network in order to provide fast local processing. Enabling merchants to benefit not only from lower processing and implementation costs but also from a streamlined revenue management and a faster time to market.
'Supporting the right Chinese online payment methods'
“It has never been easy to expand into new global markets, however, the opportunity is there for the taking. Provided the product fits the market, the booming Chinese economy promises a bright future for many retailers and will be worth it for those that get it right,” explained Ralf Gladis, CEO of Computop. “However, consumers are creatures of habit when it comes to money and, unlike in the western world, credit cards are not popular for buying online in China. Retailers selling there should support the right online payment methods preferred by Chinese consumers such as online bank transfers and e-wallets. This is where our China Paygate solution comes into its own by supporting a range of local payment methods for retailers, without them having to worry about provisioning for these as the Paygate solution does it all for them.”
Maximum coverage and lowest fee for each transaction
Supporting a multitude of payment channels through a unified interface offering a wide choice of payment options for the consumer helps to avoid order abandonment. On the other hand, the local fee structures and market coverage are different from Western habits and difficult to understand for merchants. Therefore, China Paygate 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 Paygate 6.0
China Paygate follows on from the launch of Computop Paygate 6.0 earlier this year; this latest version of the multichannel global payment platform offers new features and functionality that make it even easier and faster for merchants to conduct business both domestically and internationally. This product extended the choice of international and domestic alternative payment and processing methods available to support consumer preferences across key emerging markets including Brazil, wider Latin America and Russia and Eastern Europe.
Local Sales Support
With offices in Shanghai and Hong Kong out of which are based Computop’s local sales support and development staff, the company has established a strong, dynamic network for businesses looking to expand their e-commerce platforms into the region with existing customers including illycaffe.
'Opening up new doors for merchants'
“Computop has operated in China for almost three years and we have built up strong relationships with local payment partners. In this market, a key differentiator is the number of banks a PSP is connected to as this is the gateway to the consumer market. We’ve used our local expertise and understanding to create the China Paygate platform and are confident it will open up new doors for merchants looking to operate in this complex but exciting marketplace,” concluded Gladis.
Computop is a leading global payment service provider (PSP) that provides compliant and secure e-commerce, Point of Sale (PoS), m-commerce and Mail Order and Telephone Order (MOTO) payments globally. The company, founded in 1997, is headquartered in Bamberg, Germany, with local teams in the US, UK and China. Computop processes transactions totalling $8+ billion per year, for over 2500 large international merchants within industries such as retail, travel and gaming. Global customers include C&A, Fossil, Metro Cash & Carry, Samsung and TUI. In order to provide a complete multichannel solution for merchants, Computop has an international partner network and a global banking portfolio providing merchants with a seamless and secure transaction process, including its recent acquisition of assets from EOS Payment and Otto Group to provide payment services for merchants previously using the EOS Payment system.
Sourced from Computop, March 11th, 2014