September 20, 2016
PayPal and China UnionPay late last week unveiled a partnership the companies hope will bolster cross-border e-commerce between China and Europe. The deal enables online merchants in Europe that use PayPal’s Braintree unit to accept payments made using UnionPay credit and debit cards. UnionPay branded cards are the most widely held in the world and last year, for the first time, the total value of transactions made with UnionPay cards exceeded that of Visa cards. Braintree’s SDK now will enable merchants to add UnionPay debit and credit card acceptance to their site, opening to them the world’s largest e-commerce market.
“The addition of UnionPay will help us unlock the access to this segment of consumers for Braintree merchants,” said Rose Jen, wallet payments product manager for Braintree, in a corporate blog post. “Our offering of UnionPay is unique to the industry, designed to remove friction in the checkout process without complex re-direction of pages.”