Money 20/20

Mozido PayEase US-China X-Border Payment Gateway Launches

Mozido announced today (Oct. 26) the launch of a payments solution aimed at streamlining cross-border trade between the U.S. and China.

And as part of the rollout of the Mozido PayEase Payment Gateway Platform, a new website has been established to guide U.S. merchants through the process of creating a cross-border eCommerce presence and capability to market and sell products to the more than 1.3 billion people in China.

“Major U.S. and global brands and retailers are more than ever eyeing the large market of Chinese consumers, and Chinese consumers increasingly have an appetite for Western products,” said Michael Liberty, founder of Mozido. “Mozido is invested in making cross-border commerce a reality. The Mozido PayEase Payment Gateway opens doors for U.S. retailers and expands purchase opportunities for Chinese consumers.”

This new solution allows Chinese consumers to pay with their local bank accounts and credit cards with reliable and secure settlement of the funds to the U.S. merchant’s bank account. As a cross-border payment gateway in China, Mozido PayEase aims to break down barriers by enabling Chinese consumers to use their own local currency but still enable merchants to be paid in their own local currency.

The Mozido PayEase solution enables cross-border B2C payment processing and transaction settlement with China UnionPay, Visa, MasterCard and a network of more than 26 nationwide and 80 provincial Chinese banks, encompassing nearly all of Chinese payment accounts across 12 different currencies. Merchants already using the Mozido PayEase Payment Gateway service include Apple, Burberry, Nike, Korean Air, Travelzoo, Experian, HP, Bally, Dolce & Gabbana, H&M and Nescafé, among others.

“PayEase is the most established and trusted payment gateway in China, providing access to the local payment system and licenses to enable commerce,” said Fred Sum, CEO at Mozido PayEase. “The new Mozido PayEase Payment Gateway Web portal is making it easier for U.S. merchants to take the steps necessary to sell into China.”

Benefits of the Mozido PayEase Payment Gateway service include:

  • Comprehensive network of Chinese bank partners: PayEase can process payments for over 23 banks across China, covering 99.9 percent of all payment accounts in the country.
  • Flexible, customizable platform: Includes a multilingual (Mandarin or English) interface, a standard set of APIs and shopping cart checkout compatibility for quick account creation.
  • Recurring bill pay: Enables merchants to break payments into installments and/or support subscription services.
  • Membership and loyalty benefits for customers: Integrated within the solution are point rewards, cash rebates, discount coupons and offline rewards.
  • Unparalleled security features and offerings: Includes 3D Secure technology to combat card-not-present fraud, a secure payment gateway, a private encrypted data network, CyberSource risk management plugins, an advanced private government data center, 24/7 surveillance for monitoring access, VISA PCI compliance and an online 24/7 customer service center.
  • Custom website development: Creation of Chinese website (.cn) with translation and presentation of items/inventory, as well as help coordinating logistics for the shipping of goods via China Post and EMS.

To check out what else is HOT in the world of payments, click here.

 

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