Checkout.com’s new partnership with Tenpay in China will expand its offering of payment solutions within its single Checkout online payments platform.
This new partnership will immediately enable any new and existing Checkout.com merchants to sell to hundreds of millions of additional customers in the biggest market in the world. The Economist forecasts that China’s e-commerce market will be bigger than the existing markets in America, Britain, Japan, Germany and France combined by 2020.
In addition to providing international credit and debit card processing through its direct acquiring relationship with Visa Europe, MasterCard International, Union Pay International, American Express, Diners Club International and the Discover Network, Checkout.com is building partnerships with rapidly growing local payment providers around the globe in order to offer the most comprehensive cross-border payment solution for the internet.
Checkout.com’s focus on local payments has led to the creation of a unique solution that allows merchants to seamlessly connect all the local payments they need to their website via one single integration, regardless of the solution type (for example, eWallets, mobile payments, online banking or prepaid cards). This product typically targets merchants processing with credit cards who want to expand their reach around the globe by offering local payment options to ensure they never miss a sale.
“It is an exceptional opportunity for us, but more importantly for our merchants, to be connected to Tenpay. Tenpay is revolutionising online financial services within China and is creating so much value across the e-commerce and internet payments ecosystem.” Mathieu Altwegg, Checkout.com CEO
Contributed | what does this mean?