US-based CyberSource Corporation and China-based PayEase Technology Ltd. are collaborating to remove barriers for US and UK etailers wanting entry into the China market. According to the companies, only 6% of Chinese citizens hold credit cards. The common electronic payment vehicles are Chinese debit cards offered by over 20 different key banks in the country.

With the PayEase/CyberSource solution, merchants gain support for both Chinese credit cards as well as debit cards from over 20 key banks. PayEase can also help foreign companies navigate the various regulatory requirements associated with conducting ecommerce in China.

http://www.cybersource.com/global