Market website now accepts UnionPay
UnionPay International announced on Monday that the official website of Yiwu Market, yiwugou.com, to the UnionPay cross-border B2B payment service platform.
Purchasers outside China are able to pay safely and conveniently with UnionPay cards issued overseas to buy goods at yiwugou.com, UnionPay said in a statement.
This cooperation between UnionPay International and the website will bring much wider market space to the tens of thousands of SMEs in Yiwu, it said.
Since the proposal of the Belt and Road Initiative, China’s cross-border ecommerce is booming.
According to the study of China Ecommerce Research Centre, China’s cross-border ecommerce transaction volume grew by 30 per cent year-on-year in the first half of 2017, and 80 per cent of that is export.
In this context, UnionPay International enhances payment convenience for cross-border ecommerce to help online merchants and SMEs in China to attract more customers overseas, UnionPay’s statement said.
UnionPay cards issued worldwide are also accepted at Ctrip.com, Tuniu.comand DHgate.com, one of the largest export ecommerce platforms in China.
