Prepaid and electronic wallet provider Global Payout will enable clients to transfer funds to China UnionPay cardholders.
The integration is largely aimed at international companies that have Chinese employees. These companies can pay their staff through bank accounts that are linked to a China UnionPay bank card.
Global Payout entered licensing agreements with Intradata Solutions and First American Electronic Payment Solutions to build the technology that powers the transfer service, Global Payout said in a Jan. 28 press release. The China UnionPay card represents 70 banks, potentially opening up millions of account holders to Global Payout, it says.
China UnionPay also recently extended its ability to accept payments from outside of China through an agreement with Frankfurt-based B+S Card Service to enable European merchants to process payments from Chinese visitors.