AltPayNet, UnionPay Team up on Cross-Border Payment Solutions

AltPayNet and global payment brand UnionPay are collaborating on cross-border payment services for the world’s largest cardholder base, according to a ProNewsReport article on Tuesday (Oct. 12).

The UnionPay cross-border B2B payment and service platform “offers comprehensive online payment service for import and export enterprises, including global eCommerce, international and local trading enterprises,” according to the joint announcement.

The platform includes 24/7 cross-border B2B payment solutions; helps enterprise customers with cross-border online payments, online collection, order management and other efforts; promotes trade between China and other parts of the world; and supports direct collection/payment.

The collaboration also includes global assistance service, VIP airport service, global concierge service and other customer benefits, making it a reliable payment mode for travelers and eliminating the need to carry cash.

AltPayNet’s debit/credit cards include travel insurance, rewards points, coupons and exclusive offers.

AltPayNet’s transitions to a UnionPay Acquirer “enables the company to onboard merchants and partners to process UnionPay card, mobile and QR payments acceptance to their online shop systems, mobile and web applications,” said the joint announcement.

AltPayNet has reached Hong Kong, the Philippines, Malta, Malaysia, Singapore, the U.S. and Australia, and the company has clients in North America, Europe, the Middle East and Asia-Pacific.

Related news: China’s UnionPay Provides Tuition Refunds to International Students Studying in Australia

In August, UnionPay International (UPI) announced that it is lending support to international students studying in Australia. The Shanghai-based Chinese financial services provider, a subsidiary of China UnionPay, offered students who are UPI cardholders a refund of AUD 68 for tuition payments over AUD 6,800 paid to Australian universities.

Students can access the “Australia Payment” service in the UnionPay app to make the one-time refund claim before the end of the campaign on Oct. 31. They will benefit from UPI’s automatic conversion using its official real-time exchange when paying tuition fees.

UPI partners with more than 2,400 institutions in 180 countries and regions and more than 63 million merchants worldwide who accept UnionPay mobile payments.