Eyeing the growing Asian online retail market, Hong Kong-based online and mobile-payment services provider AsiaPay Ltd. has launched a debit-based payment service for the Asia Pacific region.

Called PayDollar Debit, the service serves as an alternative online-payment option for shoppers lacking credit cards in Asia, an AsiaPay spokesperson tells PaymentsSource. The service became operational on Jan. 11.

The service enables merchants to accept and collect immediately debit payments from online shoppers in China, Australia, New Zealand and other countries, the spokesperson says.

Merchants must apply to the payments provider for the service, 10 days after which they receive access to a payment gateway and merchant account for their online shopping site. Once set up, the merchants may accept payments made via bank accounts, debit cards, online wallets or prepaid cards from banks and payment providers across the region, she adds.

China UnionPay, AliPay and 99Bill from China, and BancNet, Globe GCash and Smart Money from the Philippines are among the supported payment partners. The service also processes payments from banks such as Bangkok Bank Ltd., Bank of Ayudhya Ltd. and Krung Thai Ltd.

The service will accommodate single settlements even if the merchant has multiple debit-payment options in different countries, according to the spokesperson.

AsiaPay says its partnerships will allow merchants to serve more than 1 billion consumers throughout the Asia Pacific region.

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