PayEasy gives Filipinos an access to Chinese economy

Not so long ago Mozcom PayEasy Online Payment System or simply "PayEasy" has enbled online merchants in Philippines to tap into Chinese economy by using China UnionPay (CUP) ATM Debit Cards which will be accepted by any PayEasy-affiliated merchant.

"With China UnionPay as one of the payment modes available in PayEasy, we are enabling local online merchants to access 95% of Chinese consumers with a bank account and receive money from them faster and securely. The Chinese online customer (CUP user) will pay the merchant in Renminbi (RMB) and our system will apply the necessary currency conversion in real-time," said Dick Chiang, COO of Mozcom. "The growing affluence of Chinese consumers is evident with the growing influx of vacationers and business people from mainland China. Local resorts and medical tourism facilities can tap on this huge market through online payments.”

Before Mozcom another Philippines-based network, BancNet, was accepting UnionPay cards at the ATM level, as well as Retailing giant, SM Prime Holdings Inc.'s Department Store, Supermarket, Hypermarket, Super Sale, Watson's, Sports Central, Appliance and Toy Kingdom which accept UnionPay at the POS level.

In China CUP is very popular; banks have already issued more than 1.5 billion ATM cards which are accepted by 740,000 merchants, more than 1 million POS terminals, and more than 120,000 ATMs.
It is necessary to add that today Mozcom PayEasy accepts all major credit cards Visa, MasterCard, American Express, Discover, JCB, Diners Club), BancNet and MegaLink ATM cards, PayPal, Globe G-Cash, Smart Money, UCPB my1Time, Western Union, over-the-counter bank deposits, and Malaysia's iPay88.