Planet Payment and ACI Worldwide Reveal UnionPay International's SecurePlus

Planet Payment and ACI Worldwide Reveal UnionPay International's SecurePlus
06.07.2017 08:45 am

Planet Payment and ACI Worldwide Reveal UnionPay International's SecurePlus

Payments

Planet Payment, Inc., a leading provider of international and multi-currency payment processing services, and ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, today announced the launch of UnionPay International’s SecurePlus, the latest in UnionPay’s solution set, that will now enable the acceptance of UnionPay debit and credit cards online, with several significant enhancements.

UnionPay is one of the largest bankcard associations in the world, with over 6.5 billion cards issued worldwide. According to the Nilson Report, over 38 billion transactions were made on UnionPay cards in 2016, making it the third-most used card brand in the world.1

With the launch of SecurePlus, several key features differentiate it from existing solutions. For example, SecurePlus allows for the acceptance of both credit and debit cards without a re-direct to a UnionPay Hosted Payment Page. UnionPay’s existing solution, SecurePay, allows for debit and credit card acceptance; however, the user is re-directed to a payment page hosted by UnionPay. This can cause significant friction due to internet issues, Chinese fire-wall, browser issues, timeouts, etc., resulting in decreased approval rates. Ecommerce merchants are also reticent to implement payment types that remove the customer from their checkout pipeline. Another existing UnionPay solution, ExpressPay, is in-line and does not require a redirect; however, it only allows for the acceptance of credit cards, a small percentage of the aggregate cards issued when including debit cards.

SecurePlus has the benefit of debit cards and credit cards, while still being in-line, removing friction and making it more palatable to merchants. SecurePlus also supports transaction tokenisation and recurring payments, and can offer 100% protection from fraud chargebacks, a significant concern for merchants selling cross-border. With ACI and Planet Payment’s SecurePlus offering, merchants will also be able to price and sell goods in multiple currencies, such as Chinese Renminbi, Hong Kong Dollars, US Dollars and Singapore Dollars.

“ACI Worldwide is excited to work with Planet Payment to be one of the first to bring UnionPay’s SecurePlus to market,” said Wolfgang Berner, VP Product Line Manager at ACI Worldwide. “This solution is a great benefit to our merchants—generating considerable interest in the travel and airline space—by helping them to more effectively access billions of UnionPay credit and debit cardholders with a seamless checkout process.”

Related News

FSS Payment Gateway activates ‘Pays’ to boost online sales

FSS (Financial Software and Systems), a global leader in payment products and payment processor, announced its e-Commerce Payment Gateway has been enhanced to... Read more »

Enterprise businesses set to lose almost £1m in failed payments annually, reveals GoCardless

Enterprise businesses could lose almost £1m annually in failed payments, with mid-market businesses making losses of £200k+ and small businesses £6k+, according to a new study... Read more »

Shift Connect moves into new gear with Currencycloud helping to drive global expansion

Shift Connect, Canada’s pre-eminent global payments and foreign exchange platform, is partnering with... Read more »

NYMBUS partners with Payrailz to offer financial institutions faster access to enhanced digital payment solutions

NYMBUS®, a provider of the world’s most advanced financial services platform, today announced a new partnership with... Read more »

STMicroelectronics and Fingerprint Cards Cooperate to Develop and Launch an Advanced Biometric Payment Card Solution

World-leading biometric company Fingerprint Cards AB (Fingerprints) has teamed with STMicroelectronics (NYSE: STM), a global semiconductor... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel