The partnership offers Pivotals merchants more payment options with the ability to target global online retail markets. With over 150 million UnionPay internet and mobile payment users, being able to service UnionPay cardholders, presents a significant added revenue stream for Pivotals merchants.
Valued in excess of USD 500 billion, the growth volume of ecommerce transactions in China is expected to surpass that of the US in 2015. Led by the rise of inexpensive mobile devices, the number of Chinese consumers shopping online is rapidly increasing, with a recent estimate pegging Chinese online spending reaching one trillion dollars by 2019.
Pivotal Payments will provide a full-service implementation of UnionPay, including boarding, streamlined risk and underwriting, full online reporting and dedicated support.
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