For the last six months, AstroPay, the largest cross-border payment services provider in Latin America, has been testing its prepaid card technology in China.
The prepaid AstroPay Card allows for Chinese consumers to pay for access to U.S. merchandise and services without revealing their banking information.
In the short test period, AstroPay has already sold over $1 million in card value to Chinese consumers. As a direct result of the success of the 6 month trial, AstroPay has become determined to expand its presence in China.
The Chinese market is generally limited in the number of payment options available. Many consumers in the area cannot sign up for international credit cards, despite their willingness to make purchases using such payment methods.
Since Chinese consumers can purchase AstroCards through the AstroPay website and through partner websites, the cards are becoming very popular. AstroPay claims to process more than one million consumers making seven thousand transactions per day.
Sergio Fogel, co-founder of AstroPay, said in a statement, “with the results of our pilot phase in China now completed, we have been very pleased with the results we’ve seen in this six month period. With this continued interest in AstroPay Card in China, the company will increase its integration with new, key Chinese e-commerce sites and online stores, as we hope to make AstroPay the go-to payment option for growing legion of online shoppers in the country.”
AstroPay is a UK company primarily operating in Latin American markets. Its main value proposition is offering easy to use payment solutions in places where many major alternatives are unavailable.