Acculynk Enables U.S. E-Commerce Sites to Accept China UnionPay Debit Cards
Nov. 21, 2013
Following an announcement highlighting its recent successes in India , PIN-based authentication technology provider Acculynk this week revealed that it is enabling U.S. merchants doing business in China to accept China UnionPay PIN debit cards on their e-commerce Websites. Acculynk noted that, in emerging markets, most cards are PIN debit cards and China is no different. Of the 3.5 billion cards issued by UnionPay, only 300 million are credit cards. E-commerce merchants hoping to take advantage of the huge and growing e-commerce base in China will need a secure way to accept debit cards online, said Ashish Bahl, CEO of Acculynk.
“The ability to access billions of net new customers is a game changer for growth-oriented merchants,” said Bahl. “By enabling both in-country and cross-border purchases, we enable the borderless customer, the customer who is seeking to purchase what they want, when they want to, regardless of borders.”
The first merchant to accept PIN debit purchases from China using Acculynk’s PaySecure gateway will be popular social lodging site Airbnb.