Tenpay, American Express Launch Overseas E-Payment Platform
Sootoo, 11/19/12
Chinese internet giant Tencent's (0700.HK) third-party payment platform Tenpay and American Express have launched the "Tenpay-American Express International Account" online payment service, hosted on Tenpay's platform and supported by American Express' infrastructure, as part of their strategic partnership.
China-based Tenpay users can use the service to make purchases on overseas e-commerce websites using RMB, according to Tenpay GM Lai Zhiming.
Tenpay-American Express International Account uses one-time code security, generating a unique encryption key for each transaction, protecting users from unauthorized access.
American Express will provide services and support for the new product, with its "overseas direct sales" platform providing a US forwarding address. Once users complete an overseas purchase, their order will be shipped to the forwarding address, and from there will be dispatched to a customer-designated destination.
Editor's Note: For more background on this topic, please see "Tenpay, American Express Partner on Overseas E-Commerce" MD 9/28/11 issue.
Keywords: e-commerce Internet overseas Tenpay Tencent third-party payment 0700.HK online payment American Express Lai Zhiming e-payment
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