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

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

Copyright ? 2016 FINTECH GLOBAL

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