AstroPay the largest cross-border payment services provider in Latin America, is using its innovative prepaid card technology to lead a reverse trade flow with China by making U.S. services available for sale to large swaths of the Chinese population.
The company has completed a six-month pilot phase selling its virtual, prepaid AstroPay Card in the Chinese market. In the short time that the company has been operating in the country, AstroPay has sold over $1 million USD in card value to Chinese consumers and as a result of this early success, has decided to ramp up its efforts in China.
With more than 1.000,000 customers in seven countries conducting 7,000 unique transactions per day, AstroPay’s cards are accepted in hundreds of online stores that and can be used for online purchases. AstroPay cards are available for purchase on its website and on the websites that are integrated with the company. Consumers in China have been using both to buy the cards and use them to make purchases without revealing their banking information. This is an important advancement for the Chinese population because of the limited payment options available to them, as many do not yet have access to international credit cards, yet wish to make online purchases with credit.
“With the results of our pilot phase in China now completed, we have been very pleased with the results we’ve seen in this six month period,” said Sergio Fogel, co-founder of AstroPay. “With this continued interest in AstroPay Card in China, the company will increase its integration with new, key Chinese e-commerce sites and online stores, as we hope to make AstroPay the go-to payment option for growing legion of online shoppers in the country.”