PAYNOVA’S E-PAYMENT SERVICE COMMERCIALLY LAUNCHED ON CHINESE MARKET WITH GAMERSGATE
Paynova is opening up the Chinese on-line market for Western merchants through a secure, first-of-its-kind payment service. The Swedish computer game distributor, Gamersgate, was first to use the payment solution when it opened its on-line shop for game sales in China.
Paynova began establishing its business on the expanding Asian markets in April 2008, through a payment solutions partnership with Beijing Cyber Recreation District (CRD). The collaboration has developed according to plan, and the first step was the establishment of BaiNuoFu, a wholly owned subsidiary in China. As a consequence of the development of the payment services, Paynova and CRD have initiated several collaborations with other Chinese partners, including China Everbright Bank, China UnionPay, ChinaPay and Lexiun.
The first operational payment service which will be used by Gamersgate will enable Western merchants to sell their products online on the Chinese market in Chinese RMB and receive payment in US dollars, Euros or Pounds. The payment service is among the first of its kind on a global basis.
“We have been successfully selling our products online to consumers in Europe and Americas using Paynova. We added their Chinese payment service to reach the millions of premium Chinese online consumers - a minimum of investment with great, rapid returns.
The market is huge,” says Theodore Bergquist, CEO of Gamersgate
Summary of the payment solution:
• Covers 940 million debit and credit cards
• Covers all Chinese Internet banks and 97% of all on-line payments
• Has a Chinese and English interface adapted to cross border e-commerce
• Users pay in RMB and vendors receive payment in EUR, USD or GBP
• “Charge back” fraud is effectively minimised with Paynova’s service
Tradtionally, the Chinese on-line market has been extremely difficult for Western e-traders to access, due to the lack of any operable payment solution. In ninety-nine out of a hundred on-line purchases, Chinese people do not use credit cards - they pay on-line, using either their Internet bank or their debit card. At the same time, the on-line market has completely exploded in size during the past years, and China has more Internet users than the US today – even if overall e-commerce volumes are lower.
”We have already noted a significant interest for our Chinese payment service with our clients. There is a great demand to reach out to the Chinese online market, with all its opportunities, especially for Western merchants. Our service for Western merchants is particularly important because it reaches a tremendous number of consumers, minimizes fraud and offers a solution to the currency conversion problem,” says Karl Alberts.
For more information, contact:
Björn Wahlgren, CEO Paynova, phone: +46 70 728 74 40
Karl Alberts, Head of China Operation Paynova, phone +46 8 517 100 21
Theodore Bergquist, CEO Gamersgate, phone +46 8 5661 4800
Paynova offers an international, account-based complete service for payments via the Internet. With Paynova as the only counterpart, e-retailers get 21 payment methods with credit cards, debit cards and Internet banks, in 12 languages with 12 currencies in a security-certified interface (PCI). Consumers can also open a Paynova account to make purchases simple and secure, as well as look after transfers between family members, friends and acquaintances. Paynova has agreements with around 2 000 e-retailers. Most are found in the following prioritised segments: travel, retail and media/network games. The company has been listed on NGM Equity since February 2004.
For further information, please visit: www.paynova.com
GamersGate is an innovative digital distribution platform that provides an easily accessible gaming experience for gamers worldwide. Recognized as an industry leader in the digital download arena, GamersGate continues to redefine the download industry while planning additional services and the expansion of its growing product portfolio from a wide range of internationally recognized publishers.
For further information, please visit: www.gamersgate.com, www.gamersgate.cn