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UnionPay Acquiring Service


 

Product Name

UnionPay Acquiring Service

Product Description

This service is available both online and offline.

In order to implement UnionPay payment service for the merchants, Bank of China (Canada) will assist merchants with installing Point of Sale terminals, setting up online payment portal, as well as transaction related fund settlements.

Merchant Types

Merchants with high levels of Chinese clients, such as car dealerships, boat dealerships, travel agencies, schools, upscale shopping malls, and other online shopping platforms. Customer can directly purchase goods and services using their UnionPay debit and credit cards.

Product Features:

• UnionPay card holders can purchase goods and services in Canada using any one of the following UnionPay cards: debit, credit, and prepaid cards. UnionPay card users can gain access to RMB account without the quota limit of foreign exchange;

• Payments are directly converted between RMB and Canadian dollars resulting in a lower currency exchange cost;

• Merchants that enable CUP payment services may also experience lower transaction fees, lower chargeback risks, and larger customer base;

• Funds will be credited efficiently into the Bank of China (Canada) merchant account and this account can be set up in either CAD or USD.

Application Process

• Merchants provide Bank of China (Canada) with the company registration documents, current operation details, financial statements, and merchant applications;

• Bank of China (Canada) will conduct merchant review, online and offline terminal set up, merchant account maintenance, and fund settlement.

For Merchant Complaint Process, Please Click Here:

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