According to marketing industry body the Asia Digital Marketing
Association, there is a total of 282 million internet users in
China, Japan and Korea, a market that One Payment Alliance is
targeting. Launched in September, One Payment provides a unified
online payment processing service with a single interface, a single
merchant service and a single payment gateway for all three
countries.

“No other service can provide a single access to China, Japan and
Korea online payment processing service similar to our
capabilities,” said One Payment’s vice-president of sales, Eugene
Lee. “Our service is needed by global merchants to deeply penetrate
into China, Japan and Korea online consumer market to accept
locally issued cards, other unique payment types and comply with
local regulations.” It also supports most international card
brands.

One Payment is the product of an alliance between three companies:
ChinaPay, the online payment processing unit of China’s only bank
card organisation, China UnionPay; Inicis, a Korean credit, debit
and prepaid card payments processor; and Econtext, which is a
Japanese payment gateway service supplier.

Among features of One Payment are consolidated real-time payment
data – including authorisation, settlement and reconciliation – a
single point of contact for the three countries, end-to-end local
payment technology implementation, payment acceptance in local
currencies for local customers, multiple payment method supports
and settlement funding in local currencies. Features such as these
“will eliminate global merchants’ repetitive administrative effort
implementing each local payment”, said Lee.