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A new Internet shopping mall is opening in China next month that will take payments in the widely used China UnionPay Co. cards for Japanese products, company officials said Friday.
The electronic shopping site "Buy-J.com" will sell gadgets, clothing and cosmetics from about 100 Japanese companies, aiming 4 billion yen ($44 million) in sales in the first year.
It would be the first of its kind that allows settlements with the Chinese cards, hoping to cash in on the growing interest in Japanese electronics goods, fashion and food among Chinese consumers.
Some 1.8 billion UnionPay cards – which include both credit and debit cards – have been issued in China, far more plentiful than credit cards like Visa.
The number of Chinese who use the Internet is estimated at some 250 million.
