Global Payout to enable money transfers to China UnionPay

Wednesday 29 January 2014 00:49 CET | News

Global Payout, a US-based provider of electronic payment and prepaid card solutions, has launched new functionality which will allow customers to transfer money to China UnionPay (CUP) bank cardholders.

The international transfer of money is made possible by Global Payouts proprietary Consolidated Payment Gateway (CPG). Because the China Union Pay card is the largest debit card platform in China representing 70 banks, Global Payout stands to receive millions of Chinese account holders whom can receive funds from multi-national companies. The integration of China UnionPay gives Global Payout access to the worlds largest market.

The ability of Global Payout to access these millions of Chinese bank accounts is the result of previous licensing agreements with First American Electronic Payment Solutions and Intradata Solutions. As a result, multi-national companies that have Chinese residents are now able to pay-out money to their employees or members with bank accounts that are linked to the China Union Pay bank card. It is estimated that there are millions of current Chinese residents who could utilise these pay-out services from Globals international client companies.

In addition, accountholders of Globals Consolidated Payment Gateway are not limited to the transfer of money to Visa or MasterCard debit and credit cards.

In recent news, Global Payout, has signed an agreement with ImageWare Systems, a cloud-based multi-modal biometric identity management solution.

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Keywords: Global Payout, China UnionPay, money transfers, bank cardholders, CUP
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce