One of our biggest successes is our partnership with China’s largest bank, China Union Pay, with the intention of offering wholesalers and retailers a unique authentification tool directly at the point of sale.
We started working with China Union Pay in January 2018 to plan our joint strategies and implement our proprietary software in their payment terminals during 2019. As a result, Comperio has installed its proprietary scanning software in Union Pay’s handheld payment terminals in over 8 million locations in mainland China.
When customers check out – prior to actual payment – the Terminal Scans the CQR and returns a reply within a second to authentificate the label. Any reading errors will cause the transaction to be cancelled, thereby protecting the consumer.
Comperio has signed an exclusive contract with a newly established unique e-commerce platform, which will be launched in late 2020. It offers international sellers a gateway to the Chinese domestic market with three different features
Zero percent customs duty (instead of 30-200%)
The possibility of retaining profits in Hong Kong in a foreign currency
We have partnered with the Hong Kong Standards and Testing Centre to ensure that each product is checked for authenticity before receiving a CQR label, creating a closed system that allows overall control.