DigitalCFO Newsroom | 29 April 2022
Sunyard Technology held an internal seminar to provide insight into its digital intelligence solution for payment acquiring businesses aiming at digital yuan.
Sunyard Technology, the leading global payment solution provider, held an internal seminar to provide insight into its digital intelligence solution for payment acquiring businesses aiming at digital yuan, demonstrating its continuous professionalism and innovation in line with contactless payments trend. As the featured product, it has always been highly valued by the industry and has been applied over the country.
The operation system of DCEP is a two-tier operation. Issued by the People’s Bank of China, it is authorized to exchange and operate with designated operators through an interoperable platform offered by related institutions, then to provide circulation services. Domestic operators in China include the Bank of China, Agricultural Bank of China, MYbank (Alipay), and WeBank (WeChat Pay). Significantly, WeChat and Ant Group’s Alipay currently control a combined 94% of China’s online payment market. In addition, the People’s Bank of China rolled out digital yuan pilots in eleven additional cities last month after showcasing the currency internationally at the Winter Olympics. On the plus side, Shenzhen was the first in China to complete the testing of cross-border transactions of digital yuan for Hong Kong residents using e-CNY in the Mainland.
The digital intelligence solution covers Sunyard DCEP management system and applications for multiple businesses. Key functions include input and output process, outgoing and incoming remittances, balance alert, reconciliation, and transaction status enquiry etc. Customers can initiate digital wallet opening applications, binding and unbinding, cashing out and cashing back, and transferring funds through banks’ channels. The acquiring side can accept digital yuan payments.
The advantages of DCEP are mainly three: firstly, no commission is charged, that is to say, it’s doable to maximize merchant’s profits; secondly, the instant response ensures frictionless transactions during peak moments; thirdly, it is also subsidized by the government currently, which also facilitates merchants’ income. And it makes payments smarter through combination payments, intimate payments, and offline payments to meet different payment needs.
Boasting a line of great POS products, such as the Android Mobile POS i80, Android MiniPOS i50, mPOS Vi218, and PinPad P90, Sunyard enjoys a good reputation in the total worldwide markets, including Asia-Pacific, the Middle East, Africa, Europe, and North America. Sunyard team is committed to creating payment terminal solutions that are more in tandem with the needs of the local market. With the No.1 market share in China’s financial industry, Sunyard is one of the financial IT companies with the most comprehensive user and network coverage in China and has established a corresponding service system in 36 branches nationwide, advocating localized, efficient, and guaranteed services.
Sunyard is constantly expanding and evolving the portfolio of products to help customers grow their business. Everything Sunyard does is backed by the expertise, support, and commitment that customers already trust it for.
Sunyard’s culture of care means it invests time, energy, and resources to develop products people can count on. Sunyard cares about quality as much as customers do. Whether they need advice, more information or to make an order, Sunyard is here to help.