Online payment clearinghouse reports surging transactions during Spring Festival

0 Comment(s)Print E-mail Xinhua, February 10, 2020
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Chinese online payment clearinghouse NetsUnion Clearing Corporation reported an increasing number of online transactions during the weeklong Spring Festival holiday.

From Jan. 24 to 30, about 4.92 billion online transactions were processed by the platform, involving 2.73 trillion yuan (about 391.4 billion U.S. dollars).

The number of transactions surged by 11.25 percent year on year while the value marked a 5.76-percent rise, the company said.

To mitigate the impact of the novel coronavirus outbreak, the company announced to waive service charges for merchants in Hubei Province, the hardest-hit region, till the end of the year.

Moreover, non-profit medical institutions and charity organizations involved in the anti-virus campaign nationwide will see their service fees for online transactions reduced or exempted, said the company.

The NetsUnion has also set up a "green channel", which provides round-the-clock service to facilitate the flow of funds related to the fight against the epidemic. 

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