This quarter topics: Cross-border / Foreign card Acquiring / Cooperation with Mastercard / 3D Secure 2.0 / EBE Egypt / UPI Russia / New office / NSPK Russia
Cross-border payments has become one of the most promising and lucrative forms of payments for the China market, servicing millions of people in most continents around the world.. Unlike domestic payments in China, which are dominated by the big players, Chinese cross-border payment market remains a huge opportunity. The cross-border payment is different from the severely homogenized payment experience of domestic payment, showing more and more styles.
Recently, Onerway a well-known crossborder payment and financial service provider in China, and Shanghai Coshine software co., LTD, a leading payment business system and service provider, have entered to a multi-year business system hosting service agreement. Through cooperation, Onerway plans to outsource the entire core payment system to Shanghai Coshine software co., LTD. So Onerway can focus more attentions on product design and development of its business, and the realization of the product and long-term operation work has been delivered to Shanghai Coshine software co., LTD.,
It will bring benefits of reducing overall operation cost & enhancing competitiveness to consolidate Onerway’s leading position in the market, whilst using Coshine’s rich business solution experience, technical development and system operations capabilities.
The Foreign card acquiring business is a very important business direction of JiuTai bank, JiuTai bank hopes that the business would become a profitable and distinctive and secure business. Shanghai Coshine Software Co., Ltd, as an important business and technical solution partner of Jiutai bank, has built an entire business system for Jiutai bank. The system consists of foreign card acquiring, merchant management and cross-border systems with risk modules. The system and services are delivered and covered by Coshine’s portfolio of EastPay® Switch\EastPay® Acquiring\ EastPay® Payment Gateway\EastPay® 3D Secure 2.0. Coshine owns all of the IP of these products.
Both parties have agreed to broaden their cooperation scope. Coshine will introduce more payment network to national
level or regional level to JiuTai bank, assisting business development of JiuTai
Coshine is qualified as a global service provider of MasterCard, providing professional payment business consulting services for MasterCard. Coshine and MasterCard have been working together for over a decade. Recently, in order to expand and deepen the cooperation with MasterCard, Coshine has passed the strict technical, financial and qualification audits of MasterCard, and officially obtained the qualification of global service provider of MasterCard.
Shanghai Coshine Software Co., Ltd has been continuously investing in 3DS business products, and the LOA (Letter of Approval) from EMV Co has been successfully obtained.
As a leading, innovative payment business solution provider in China and the rest of the world, Coshine continues to invest in R&D. 3D Secure 2.0, is based on the 1.0 version, it has been greatly upgraded and improvements made in customer authentication, it fully supports the payment experiences on internet and mobile.. Coshine pays attention on the mobile payment products and develops and tests the 3D Secure 2.0 products as fast as possible.
In Middle of April, Coshine obtained China's first, third in Asia letter of approval of products of 3D Secure 2.0 Server and 3D Secure2.0 ACS from EMV Co. So far, Coshine is only one of 3D Secure 2.0 product provider in China Mainland which fully supports 3D Secure 2.0 (please get relevant information through https://www.emvco.com/ approved-registered/approved-products/). Coshine can provide services for customers through SaaS service and/ or customer on-site implementation.
Ms. Jeanne Zhou, as CIO of Shanghai Coshine software Co., LTD, and part of the international expansion, led the team to participated in the global user conference of EBE company in Egypt and exchanged company product portfolio with EBE CEO Mr. Ibrahim Sanad.
EBE Company in Egypt, is leading solution and financial services solution and system integration service provider in Cairo. Their business is successful in African and Middle. East. As part of the international expansion Ms. Jeanne Zhou, on the recommendation of Pax International (00327.hk), led the team to participate in the EBE global user conference in Egypt in April 2019 and visited Mr. Ibrahim Sanad, CEO of EBE.
Ms. Zhou introduced in detail the product portfolio, industrial experiences, reference cases of Coshine, as well as the rapid and booming development of China's domestic payment market. Both parties have shown strong interest in further cooperation in the Egyptian market and will further discuss details of cooperation.
Coshine has planned in-depth cooperation with UPI (Russia), assisting UPI to provide comprehensive payment business system services for Russian Banks and payment institutions.
Mr. Jacob Xu, as CEO & President of Shanghai Coshine Software Co., Ltd, led the team to visit UPI (Russia), and together visited Russian company of Bank of China, and Russian company of China Construction Bank, Russian Union Bank, Yandex Money…. Recently, UPI has very well business expansion in Russia. As leading payment business solution provider in China, Coshine wishes to cooperate with UPI Russia, and bring Chinese advanced payment product to Russia, and help Russian banks and payment institutions to build and achieve their rich payment business more efficiently, securely with lower cost.