U.S.-based CyberSource Corporation and China-based PayEase Technology are teaming up to provide global merchants with fast and cost-effective access to the local online payment vehicles in China. Their joint solution is available now, and, a merchant’s ability to accept Chinese bank cards is subject to satisfaction of certain eligibility criteria and regulatory requirements.

With a rapidly growing population of online consumers, the Chinese market is a key target for many leading eCommerce brands around the world. However, technical and logistical issues pose significant challenges for merchants wanting to enter the China eCommerce market. The common electronic payment vehicles are Chinese debit cards, offered by over 20 different key banks in the country. Merchants seeking broad access to the market are required to integrate with each of these disparate institutions, in addition to satisfying regulatory requirements regarding licenses and domicile.

The PayEase/CyberSource solution seeks to remove these barriers and facilitate merchants’ entry into the China market. With their solution, merchants gain support for both Chinese credit cards as well as debit cards from over 20 key banks. PayEase can also help foreign companies navigate the various regulatory requirements associated with conducting eCommerce in China, such as licensing requirements for Internet Content Providers, by, for example, helping to identify professional advisers in China familiar with such regulatory requirements. PayEase also offers customer loyalty programs designed to help promote new foreign merchants to Chinese nationals that have previously purchased online.

The integration between CyberSource and PayEase reaches beyond payment acceptance to tap the full range of CyberSource and PayEase payment management solutions. Merchants can opt for real-time tax calculation for local Chinese value-added tax. CyberSource’s industry-leading fraud management portal, Decision Manager, supports payments through PayEase, including the ability to recognize the Chinese language character set, and incorporates country-specific decisioning rules to automate the acceptance or rejection of orders. Financial transaction reports are available in English to ease reconciliation. (CyberSource)

• PayEase Acquired Capinfo’s Online Payment Business
• ONE Payment Alliance Corp. to Launch a Consolidated China, Japan, and Korea Online Payment Service
• China Merchants Bank Enhances Services with New Misys Risk Solution
• PayEasy Opens Philippine Market to 1.3 Billion Chinese
• New Regulations on Foreign-Funded Banks
• Banks Fight Over Credit Card Market
• Gui Lin City Bank Selects Clear2Pay for Real-time Identity Verification
• A Single Payment Service by ChinaPay, eContext and INICIS