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Online Payments

Alpha Payments Cloud launches China Payments Cloud

Monday 4 April 2016 | 11:36 AM CET

Alpha Payments Cloud, a global third party payment, risk and ecommerce solutions provider, has partnered WeCollect, a Chinese payment services provider, to launch the China Payments Cloud through a white-label partnership.

WeCollect’s China Payments Cloud is a complete suite of payment options and supporting services for the Chinese market, offering merchants access to all major Chinese payment methods in addition to WeCollect’s proprietary Chinese Personal Verification product, all through a single integration.

The range of payment options offered through the China Payments Cloud include CUP debit and credit card processing, online bank transfers to and from all major banks, B2B and B2C cross-border remitances, subscription payments, Tenpay’s WeChat Payment integration, and China’s e-wallet Alipay.

Integration options for merchants include hosted China UnionPay-branded checkout pages, direct checkout pages which are integrated directly into the client’s website, and mobile payments. In addition to the multitude of payment methods on offer is WeCollect’s Chinese Personal Identity verification tool, which can be used for fraud screening and eKYC applications.

According to the Chinese Ministry of Commerce, China’s ecommerce transactions were valued at USD 2.3 trillion in 2015 with 69% of activity coming from the B2B market. Continuing to grow at a rapid pace, there are over 642 million Chinese online users monthly, and over 565 million monthly mobile users, representing almost half of the population. In 2015, 35% of Chinese consumers engaged in cross-border shopping creating over USD 1 trillion in cross-border remitances.

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