SEOUL | PayGate, a South-Korean based payment service provider starts providing all major prepaid payment service for the Chinese ecommerce market. PayGate's payment method offering includes China Bank Union‘s CUP service and China’s biggest online-offline payment solution by internet companies' AliPay/TenPay.
AliPay in China takes 40% of market share
AliPay, Alibaba group's online-offline payment solution is the biggest major in China, which takes about 40% of market share. QQ, IM based Chinese internet giant is providing their TenPay solution, which is about 20% of all online payment in China. Combining them all, together with credit card payment, it's covering almost 90% of all online markets and online stores, according to PayGate.
PayGate is an online payment solution provider (PSP) company established in 1998, which has been continually focusing on international market as for inbound and outbound. They are specialised in international business transaction as well as most-international-fitting Active-X free payment solution since it's the majority that almost all PSP companies require Active-X plug-in and usage Microsoft Internet Explorer along with Windows operating system. Please visit their profile for more information.