European purchases now available on Chinese cards

Again to China. Customers in the country will be able to make purchases at European retailers while paying with their cards issued in China. Rahaxi Inc., an international card payments processor and technology company, partnered with ChinaPay to bring Europe's internet-based retailers to Chinese internet consumers. This project will allow Chinese shoppers to pay for items in their local currency and using Chinese cards and accounts.

Under this agreement Rahaxi's direct and partner-connected merchants accept Chinese-issued payment cards for payment of goods which is a significant achievement for the Chinese ecommerce. This new service will enable all Chinese online customers to shop from their country at western merchants. The product will be marketed to Rahaxi's direct merchants, online retail service providers, and Rahaxi's partner banks to make the offering available to a wide and diverse audience of online retailers.

Paul Egan, Chief Executive Officer of Rahaxi Inc., said, "This global agreement is the natural extension of our strategy to facilitate effective and efficient payment services between Chinese consumers and 'Western' retailers." He added, "Not only can Chinese visitors use China's only credit and debit cards, China Unionpay cards, with Rahaxi-linked retailers in Europe, they will now be able to shop with any Rahaxi-linked online retailer in the world from China with their China-issued cards."

Source: Market Watch