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.
