PayPal buddies up with UnionPay for European payments

PayPay is making it easier for European e-commerce companies to attract Chinese customers through a partnership with UnionPay.

The deal will allow European merchants to accept payments from UnionPay credit and debit card users through its Braintree platform.

PayPal expects Chinese consumers to spend $118m through cross-border transactions this year, an increase of more than 31% on last year.

Braintree’s platform is designed to facilitate mobile commerce and will enable merchants to accept UnionPay cards through a few lines of code.

It’s hoped that adding a familiar payment method will encourage Chinese shoppers to spend money on European e-commerce sites and increase PayPal’s appeal to European merchants.

Copyright © 2016 FINTECH GLOBAL