YeePay, a leading payment service provider in China, announced today that it has partnered with EachNet to provide payment solutions for its newly re-launched consumer-to-consumer online marketplace.
As the sole payment provider working with EachNet, YeePay manages the money flows for EachNet's escrow payment service, which allows buyers and sellers to send and receive payments. YeePay also provides user identity verification service for EachNet.
The new EachNet was setup as a joint-venture between eBay and TOM Online. The new platform is specially designed for the China market with significant enhancements in user experience, providing a secure and enjoyable shopping environment tailored for the buyers and sellers in China. EachNet also partners with many named brands like HP, Logitech, Newman, Asus, BenQ and elite sellers to provide high-quality merchandise.
To win buyers' trust, EachNet provides an escrow service - An Fu Tong, where payments will be held until buyers are satisfied with their purchases. YeePay's payment service integrates with An Fu Tong and allows the buyers and sellers to send and receive money with bank cards securely and conveniently. Sellers must verify their identities before they can withdraw money from EachNet accounts. YeePay's service also allows EachNet to verify user identity through their bank information.
According to the representative from EachNet, YeePay was chosen because of its ability to provide on-demand solutions tailor-made for the local needs of the China market. YeePay is widely used by many merchants and is known for its high standards in security and reliability. EachNet also values YeePay's ability to innovate and grow with the changing needs of customers.
Commenting on the partnership, YeePay's CEO Bin Tang said that EachNet has been a symbol of eCommerce in China and its re-launch will bring new life to the market. YeePay is committed to providing reliable payment services for EachNet to ensure a secure, convenient and enjoyable shopping experience of its users.