Smile Shop the premier Asian e-commerce platform has partnered with Conflux Network China’s only regulatory-compliant public blockchain to launch the BitUnion prepaid card.
This partnership signifies a major expansion into global digital asset payment with cards welcome in 183 countries and regions.
The BitUnion prepaid card operates on the recently launched UnionPay International USD prepaid card framework.
UnionPay International, the world’s second-largest card payment processor, ensures seamless financial transactions.
Users can load funds onto the card to make online purchases, use it at point-of-sale machines or withdraw cash from UnionPay ATMs across 183 countries.
The card can also be linked with popular third-party payment platforms like Alipay and WeChat Pay.
Whether offline or online, transactions are settled at real-time exchange rates between local currencies and USD.
The account approval process is quick, and management fees are waived during the initial launch period.
As a key product in Conflux’s PayFi ecosystem, the prepaid card incorporates experienced security authentication systems from traditional finance.
User data is managed by professional institutions, ensuring security and compliance.
Fiat assets are held within the UnionPay account system, guaranteeing absolute security and reliability.
The BitUnion prepaid card has obtained the highest-level financial security certifications, including 3DS and PCI-DSS, comprehensively protecting cardholders’ payment security.
The prepaid card will support digital asset transactions and transfers within the Conflux Network, leveraging the blockchain-based PayFi system to overcome limitations in traditional payment infrastructure.
Introducing traditional financial models from credit cards to invoice financing and reverse factoring into blockchain creates a more integrated value network.
Conflux’s PayFi (Pay Finance) addresses inefficiencies in traditional payment systems while keeping financial operations aligned with real-time data, creating a large-scale model for blockchain consumer application ecosystems.
As a high-performance layer-one blockchain, Conflux has been at the forefront of technological advancements particularly in the development of stablecoins.
They are now expanding their focus to encompass a comprehensive payments infrastructure and cultivate the PayFi ecosystem.
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