Chinese Internet company Tencent's online payment service Tenpay and American Express have reached cross-border payment cooperation and the two parties have jointly launched a new virtual payment product.
The new product is reportedly an international account which is supported by both Tenpay and American Express. By opening this account, users will be able to realize cross-border RMB settlements. Chinese users will be able to buy products from about 100 U.S. websites that accept American Express credit cards, once they apply for a virtual account with Tenpay.
It is also the first virtual payment product launched on the platform of Tenpay and American Express will provide security support. For security functions, a one-time security code will be automatically generated when users implementing Internet transactions, to prevent password theft.<...
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