NTT DATA’s Global Payment Hub Expands Its China Payment Offerings

by PaymentsJournal 0

Hong Kong – 11 July 2016 – NTT DATA’s Global Payment Hub, the payment business unit of NTT DATA Hong Kong Limited which is a subsidiary of Japan’s NTT DATA Corporation, has recently added a number of China’s local payment options which include Tenpay and WeChat Pay, in addition to its current payment acceptance choices of UnionPay, AliPay and all other major payment methods in China for online transactions. With just one single integration through NTT DATA’s Global Payment Hub, global merchants can accept a wid range of local payment methods that are most popular with China’s eCommerce retail consumers.

Apart from its unmatched payment method coverage in China, NTT DATA’s Global Payment Hub also offers an offshore settlement service for UnionPay card online transactions, helping global merchants to better manage foreign exchange exposure. The service allows merchants outside of China to receive transaction settlement funds at competitive rates outside of the country without having to set up a domestic business entity in China. Merchants with the need to pay suppliers in China will benefit from receiving settlement funds in the same currency as the Renminbi-denominated transactions to reduce multiple foreign exchange conversions. NTT DATA’s Global Payment Hub can facilitate these paymentsdirectly to suppliers for the merchants. “Our new China payment offerings put NTT DATA’s Global Payment Hub in a leading position as an international payment service provider with strong local payment capabilities. With our one-stop solution and one point of transaction management, global merchants can access a comprehensive range of China’s local payment methods while enjoying multiple benefits of our superior China payment solution,” said Tyrone Lynch, CEO, NTT DATA’s Global Payment Hub.

China is a high-potential market for global eCommerce and a growing number of Chinese online shoppers are buying globally. The strong demand for foreign goods is driven by higher trust and perceived better quality associated with foreign brands. According to industry sources1, it was projected that 291 million online shoppers in China will spend US$160 billion on cross-border eCommerce by 2020 – almost doubling the figures estimated for 2016. By 2020, a quarter of the Chinese population or about more than half of all digital buyers will be making online purchases from abroad. Global merchants who wish to find out more about our China payment solutions, please contact NTT DATA’s Global Payment Hub by email at 1 e-Marketer, June 2016

About NTT DATA’s Global Payment Hub NTT DATA’s Global Payment Hub is an international payment service provider that helps global merchants process and manage local and cross-border transactions in multiple currencies for their international businesses through a single platform. The company offers the advantages of global reach and local processing capabilities with deep expertise in Asia. Merchants can benefit from NTT DATA’s extensive coverage of payment methods as well as unique solutions designed to help businesses capture new market opportunities. NTT DATA’s Global Payment Hub is the payments business unit of NTT DATA Hong Kong Limited, a subsidiary of Japan’s NTT DATA Corporation which has been managing missioncritical payment systems for over 30 years. NTT DATA Corporation is part of the NTT Group, one of the world’s largest technology services companies, generating more than US$100 billion in annual revenues, and a partner to 80% of the Fortune Global 100 companies.

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