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TMCNet:  AsiaPay and PayEco launch new mobile payment product

[February 01, 2013]

AsiaPay and PayEco launch new mobile payment product

Feb 01, 2013 (Datamonitor via COMTEX) -- AsiaPay, an ePayment service and solution provider, and PayEco, a cloud mobile payment service provider, have jointly launched PayDollar UnionPay DNA Mobile Payment service.

The strategic partnership further addresses the needs of Hong Kong and merchants in Asia to collect Card-Not-Present payments for online, MOTO, mobile & reservation centers from UnionPay Cardholders in China. The solution also supports pre-authorization and is able to provide payer information for verification, AsiaPay said.

PayDollar UnionPay DNA Mobile Payment solution service is a secure mobile payment product for China UnionPay Card-Not-Present environment. It adopts the advanced dual channels technology between card number and authentication information, minimizing risks, supports Card-Not-Present payment for MOTO, reservation centers, WAP, mobile client-end and smart TV.

Upon purchase order confirmation with merchant the cardholder will receive a voice call from the payment platform with related transaction information, he/she will then be asked to confirm and complete the payment in a simple, secure and convenient manner. The service also provides a pre-authorization feature to allow merchants to accept UnionPay pre-booking. Besides, this service can provide the merchants the payer information for reconciliation.

Kenneth Cheng, SVP International Business of PayEco said, "Merchants today need comprehensive payment solution to maintain competitiveness and strengthen market competitive edge. 'PayDollar UnionPay DNA Mobile Payment' solution service focuses on providing high quality, convenient, reliable cross border payment service to merchants and their clients in China using mobile devices, greatly enhance sales and services potential." "We are honored to cooperate with PayEco to broaden our product offerings to our merchant clients throughout Asia to better serve their customers in China, and share collaborative synergy in and outside China markets. This is also part of our business roadmap to deploy secure, convenient mobile payment solutions to better serve the market. We believe our close cooperation will continuously bring new value-added electronic payment solutions and services from China to Hong Kong and regional merchants.", said Joseph Chan, CEO of AsiaPay.

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