TL;DR Summary
- The Opportunity: If your business isn’t accepting UnionPay, you’re missing out on the world’s largest cardholder base, creating a significant barrier to global growth.
- The Solution: Payverse’s payment technology bridges this gap, enabling you to seamlessly process UnionPay credit card purchases and connect with a massive international customer base.
- The Benefits: Integrating with Payverse to accept UnionPay gives your business a significant competitive edge, helps increase sales and revenue, and fosters loyalty with international customers.
- The Unique Advantage: Payverse stands out in the U.S. by offering both UnionPay acquiring (accepting payments) and remittance (receiving settlement in your local currency), creating a single, streamlined solution for cross-border transactions.
See our video “Guide To Accepting and ImprovingYour Customer Satisfaction With UnionPay”
The “Missing Piece” in Your Global Payment Strategy
In today’s interconnected marketplace, expanding your business globally is essential for growth. A critical step in this expansion is accepting payments from a diverse, international customer base, especially from the massive consumer markets in China and other Asian economies.
However, a critical “missing piece” in the payment gateway stack often hinders this expansion. While most gateways readily offer acquiring for major brands like Visa and Mastercard, UnionPay—the world’s largest card scheme by card issuance—is frequently overlooked. This creates a significant barrier for merchants, effectively turning away millions of potential customers making cross-border purchases. Payverse provides the crucial solution to bridge this gap.
Why UnionPay is Non-Negotiable for Global Merchants
UnionPay boasts more cardholders than all other credit card networks combined. For businesses aiming to serve Asian consumer markets, accepting UnionPay is a necessity. By not accepting this preferred payment method, merchants miss out on key customer segments, including:
- Chinese tourists, students, and online shoppers who predominantly use UnionPay.
- A substantial segment of potential customers who prefer to use their UnionPay cards for both online and in-store purchases.
This results in missed opportunities and a higher risk of cart abandonment, directly impacting potential revenue.
How Payverse Bridges the UnionPay Gap
Payverse directly addresses this challenge by enabling gateways and merchants to seamlessly integrate UnionPay acquiring into their existing infrastructure. This empowers your business to unlock new revenue streams and gain a significant strategic advantage.
By integrating Payverse to accept UnionPay, your business will:
- Massively Expand Your Market: Instantly connect with the world’s largest cardholder base.
- Increase Sales and Revenue: Offering more payment options leads to more completed transactions and reduces cart abandonment.
- Gain a Global Competitive Edge: Stand out from competitors who may not yet offer UnionPay acceptance.
- Enhance Customer Loyalty: Provide a convenient and familiar purchasing experience that fosters trust and encourages repeat business.
The Payverse Advantage: Acquiring + Remittance in a Single Solution
What truly sets Payverse apart in the U.S. market is its unique ability to offer both
UnionPay acquiring and remittance services. This dual capability simplifies the entire cross-border transaction lifecycle for your business.
- UnionPay Acquiring: This allows your business to accept and process payments from UnionPay cards seamlessly.
- Remittance: This critical service enables you to receive your settlement funds efficiently and reliably in your local currency, such as USD. This eliminates the complexities of international fund transfers and ensures predictable cash flow.
With Payverse, you no longer need to manage multiple providers for payment processing and fund settlement. This streamlined, all-in-one solution reduces administrative burden and accelerates your path to revenue from cross-border commerce.
Ready to Unlock Your Global Potential?
In the evolving landscape of global e-commerce, embracing diverse payment methods is no longer a luxury but a necessity. For merchants seeking to tap into the immense potential of the Asian market, Payverse provides the essential “missing piece.” Stop turning away the world’s largest customer base. It’s time to expand your global footprint and unlock significant new growth opportunities.
Contact a Payverse specialist today to enable UnionPay and start growing your international sales.
Frequently Asked Questions (FAQs)
What is UnionPay? UnionPay is the world’s largest credit card network based on the number of cards in circulation. It is the preferred payment method for millions of consumers, particularly in China and other Asian markets.
Why is accepting UnionPay important for my business? Accepting UnionPay allows you to access a massive global customer base, increase your sales potential, and provide a better experience for international customers. It gives you a competitive edge over businesses that do not offer it as a payment option.
How does Payverse make it easy to accept UnionPay? Payverse provides the technology to seamlessly integrate UnionPay acquiring into your existing payment systems. It also uniquely handles remittance, ensuring you receive your money in your local currency without the hassle of complex international transfers.
Is the Payverse solution only for online businesses? No. The solution is designed for both online and in-store purchases, catering to international tourists and students as well as e-commerce shoppers.