PayPal has rich overseas online merchant resources while UnionPay serves the world’s largest cardholder base. As early as in 2010, PayPal had enabled the connection of UnionPay cards (card number starting with 62) to its accounts. Now, UnionPay cards are accepted by all online merchants that accept PayPal. Customers can log in their PayPal account, click "Add Bankcard" on the user information page, input and confirm UnionPay card number to complete the connection of UnionPay card to PayPal account after SMS verification.
As cross-border online shopping becomes increasingly popular among Chinese consumers, the two sides deepened their cooperation by setting up a "PayPal Merchant Zone" on UnionPay International’s "Shop The World" platform, covering more than 100 well-known overseas online merchants such as Farfetch, Ssense, and Asos with more to come. Cardholders can have direct access to the merchants' website through haigou.unionpay.com. They can not only get convenient payment service as usual but also can enjoy commodity recommendation, language translation, shopping guide, cash back, transit and other privileges offered on haigou.unionpay.com.
“Cardholders can now make purchases, book air tickets and hotels and pay tuitions in 10 million overseas online merchants with a UnionPay card. In the future, we will work with PayPal to select more overseas merchants favored by cardholders so as to better meet UnionPay cardholders' cross-border online shopping demands and bring them more convenient and secure online payment experience,” said Shuan Ghaidan, Director of Products at UnionPay International.
“Chinese consumers are discerning. Apart from authenticity, variety and a secure payment experience, they also want to get the most value out of every purchase, and this is precisely what the PayPal China Connect program provides. Together with UnionPay International, we are able to connect Chinese haitao consumers directly to our global network of merchants and their products at attractive prices. PayPal’s Buyer Protection enables our customers to shop with confidence, knowing their purchases are covered,” said Matthew Lee, Vice President of PayPal North Asia.
The number of UnionPay online and mobile payment users has exceeded 150 million. When making cross-border online payment with UnionPay cards, you are only required to input and verify necessary information inculding your UnionPay card number and mobile phone number without the need of online-banking service. Currently, the 10 million overseas online merchants that accept UnionPay cards cover a variety of fields including retail, online travel reservation, tuition payment and aviation reservation, spreading over 100 countries and regions including Europe, America, Japan, South Korea, South Pacific, Hong Kong and Macau, and including Amazon and eBay in the US, Lotte in Japan, Agoda, and Booking and many other well-known merchants around the world.