Partnership opens up the China market to international merchants
HONG KONG -- (Business Wire)
First Data (NYSE: FDC), a global leader in commerce-enabling technology,
signed an agreement with Huifu Payment Ltd (Huifu, 01806.HK), a leading
third-party payment provider in China, to offer a market-leading global
eCommerce solution into China.
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The collaboration with Huifu, a PBOC licensed third-party payment
provider with a strong presence in both the China POS and online
acquiring markets, will produce the integration of Huifu’s technology
platform with First Data’s payment gateway. The combined technology
delivers an integrated processing solution with the ability for
international merchants to seamlessly enable multicurrency transactions
from a single platform on a real-time basis across markets.
“We are delighted to partner with First Data,” said Mr. Ye Zhou,
Chairman of the Board, Executive Director and Chief Executive Officer of
Huifu. “Huifu provides First Data with the ability to route transactions
and settle domestically in China offering a seamless eCommerce solution
to the global merchant base of the largest acquirer in the world. With
Huifu’s local expertise and First Data’s global presence we offer a
unique solution to merchants around the world to tap into the immense
eCommerce market in China.”
The offering will be compelling to international merchants serviced by
First Data’s global eCommerce platform with an interest in attracting
incremental spend from China’s eCommerce consumer base. The solution
integrates local Chinese language and local payment methods including
China UnionPay, Alipay and Wechatpay into merchants’ websites, providing
a seamless, and importantly, a familiar shopping experience for
consumers in China, encouraging high adoption rates and therefore higher
conversion rates.
“Making consumers’ shopping experiences as seamless as possible and
offering familiar local payment methods is key to reducing shopping cart
abandonment and driving successful cross-border commerce,” said Ivo
Distelbrink, Executive Vice President, Head of Asia-Pacific, at First
Data. “We are excited about the opportunity that this partnership with
Huifu brings to our global merchant base who will now be able to benefit
from domestic processing and settlement in RMB. As we continue to expand
across the Asia-Pacific region, we will extend coverage to new markets
and collaborate with carefully selected partners to deliver the
solutions that meet our clients’ ever-changing needs of the local
consumer.”
About First Data
First Data (NYSE: FDC) is a global leader in commerce-enabling
technology, serving approximately six million business locations and
4,000 financial institutions in more than 100 countries around the
world. The company’s 22,000 owner-associates are dedicated to helping
companies, from start-ups to the world’s largest corporations, conduct
commerce every day by securing and processing more than 3,000
transactions per second and $2.4 trillion per year. For more
information, visit www.firstdata.com and
follow us on Twitter at @FirstData.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180919005773/en/
Contacts:
Andrea Duffy
Public Relations
First Data
646-984-0240
Andrea.Duffy@firstdata.com
Joanne
England
Marketing and Communications, APAC
First Data
+852
9309 2213
Joanne.England@firstdata.com
Source: First Data
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