ChinaPay.com enables online payments in Shanghai

Whilst the rest of the world ponders about online payments in the B2B world, China has finally closed the loop in the B2C world.

Payments for business to consumer B2C transactions over the internet in China are fast becoming a reality - at last. ChinaPay.com is working with The Shanghai Bankcard Network Service Center SNET to provide an online link between internet merchants and the Shanghainese members of the Golden Card national project.

The Golden Card Project was established in 1993, and its goal is to provide credit and debit and electronic banking services to China. Shanghai was a pioneer city and is touted as one of the premier Golden Card switch centers in China. The Shanghai network is called SNET and is an entity of the Shanghai Branch of the People's Bank of China PBOC....

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