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PayEase Won A “ Case Award for Technology Innovation Service Demonstration in the 4th CIFTIS “

In the selection of service demonstration cases of the 4th CIFTIS, PayEase cross-border electronic payment solution was selected as one of the science and technology innovation service demonstration cases.

PayEase which was founded in 1998, is the first in China multi-functional electronic payment service platform which provides a variety of cross-bank and cross-regional bank card online payment transactions.

PayEase is researched and developed by Payease Technology (Beijing) Co. Ltd which has concentrated on providing the electronic merchants with electronic payment solutions based on one-stop and customized internet and mobile internet. The PayEase platform is an open system which not only directly links to 23 national banks in the country and the core payment system of China UnionPay, but also accepts the overseas credit cards issued by the member banks of the four big international card institutions (VISA, MasterCard, AE and JCB), and in cooperation with Yandex. Money, accepts bank cards issued by the banks of Russia and East European Region, and it is currently one of the electronic payment platforms within the country which supports most kinds of cards issued by the nationwide and global banks and with most wide coverage. The Company has obtained the “License for Payment Business” issued by the People’s Bank of China and the permit for “cross-border E-commerce foreign exchange payment business” issued by the State Administration of Foreign Exchanges and it can provide cross-border clearing and settlement services for international electronic merchants.

With the increase of our country’s overseas customers and the growth of the demand for cross-border settlement, the cross-border settlement has become a major issue to be resolved urgently. The PayEase electronic payment solutions can provide cross-border foreign exchange and RMB payment services and O2O cross-border E-commerce overall solutions. The cross-border trade in goods E-commerce integrated service solution is formed with the cross-border payment as the core, which has concentrated multi dominant resources such as cross-border clearing and settlement, financial services, Customs clearance, warehousing logistics and marketing promotion services to provide one-stop comprehensive services for electronic business enterprises. The comprehensive service platform includes six main functional systems: information sharing service system, financial service system, intelligent logistics system, E-commerce service system, risk prevention and control system and statistical detection system. In the model of cross-border payment business, the PayEase product undertakes detailed application design from the perspective of transactional authenticity and compliance: two-truck parallel mechanism of technical risk monitoring and control and operational risk monitoring and control. The offline traditional sales model was seamlessly integrated with the online network marketing model centering on the change of the contact point of the consumers in order to achieve the interoperability between the hypostatic store resources and network resources so as to realize the online and offline integrated development.

The PayEase cross-border payment solution currently provides services mostly for the world top 500 enterprises and the well-known platform enterprises such as Apple, Amazon, Nike, HP, Burberry, D&G, Armani, Travelzoo, peerTransfer, Nespresso, H&M, SHIGSEGAE and Suiyitong (the first E-commerce platform in China specially for the Russian market) with an annual transaction amount of nearly 100 billion Yuan, and in 2013, it ranked 13 in VISA’s global card processing.