Tuesday, 03 November 2020 02:10

YinSheng E-Pay Establishes American Express Renminbi Acquiring Business

On October 23rd, YinSheng E-Pay (银盛支付) successfully completed its system docking with Express (Hangzhou) Technology Services Co., Ltd. (连通(杭州)技术服务有限公司), the Chinese joint venture (JV) launched by American Express. YinSheng E-Pay will now be able to provide clearing services for the renminbi transactions of American Express. In June, the PBoC and the China Banking and Insurance Regulatory Commission (CBIRC) approved the JV’s application to become a bank card clearing organization. YinSheng E-Pay is one of the JV’s first batch partners. YinSheng E-Pay will now upgrade its merchant terminals to ensure that merchants can accept payments from American Express’ renminbi credit cards.

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