As a result, all merchants who are currently using products and services of OnePay will now be able to accept payments and provide services to more than 2.8 billion UnionPay cardholders worldwide. Initially, the online payment function will be available for UnionPay cardholders in China mainland. This service is set to be launched on May 30, 2012.
The total value of online transactions by international cards reaches more than USD 10 million per month, but is accounted for only one percent of the total activities of international payment cards in Vietnam, which reflects the potential of Vietnam’s e-commerce market. Until now, online payment has only been accepted by more than 500 merchants with four international cards including Visa, Master Card, Amex and JCB.
UnionPay has been present in Vietnam since 2005. China UnionPay is the national bankcard association in China, responsible for operating the unified inter-bank clearing and settlement system and developing the international acceptance network for the China UnionPay card.
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