What is Baofu? Baofu Review

Baofu Network Technology (Shanghai) Co., Ltd. was established in 2011 with a registered capital of RMB 800 million. At the end of 2011, it was awarded the Payment Business License issued by the Central Bank. With its leading R&D strength and innovation capabilities, Baofu focuses on the fields of electronic payment and big finance, and is a high-tech enterprise that provides comprehensive payment services.

About Baofu

Baofu's annual transaction volume exceeds RMB 1.5 trillion, the number of daily transactions exceeds 12 million, the number of contracted merchants exceeds 20,000, and its market share has jumped to 4th in the industry. It has passed more than 10 security certifications from authoritative organizations and covers more than 30 mainstream banks in China.

Supported currencies

Baofu cross-border payment cooperates with many domestic and foreign bank channels, supporting 11 currencies including U.S. dollar (USD), euro (EUR), British pound (GBP), Hong Kong dollar (HKD), Japanese yen (JPY), Singapore dollar (SGD), and Australian dollar (AUD).

Supported Platforms

Accept global payments, support Amazon North America/Japan/European platforms

Industries covered

Baofu products are widely used in the Internet and mobile Internet, covering more than 30 industry markets, including B2C online shopping malls, B2B e-commerce, digital entertainment, community dating, Internet finance, consumer finance, logistics industry, insurance industry, public utilities, international conferences, aviation tourism, etc. Currently, more than 20,000 merchants have signed contracts with Baofu, and the number of daily transactions exceeds 12 million.

Withdrawal

Cash withdrawals are available 24/7 and are transferred to domestic bank accounts in real time. We support mainstream domestic banks and cooperate with more than 30 domestic financial institutions including Industrial and Commercial Bank of China, China Merchants Bank, Bank of Communications, China Construction Bank, and Agricultural Bank of China.

Security certification

World-renowned PCI DSS security certification, VerisignSSL certification, GeoTrust Inc, Value-added Telecommunications Business License, Payment Service Business System Test Report, Red Shield Certification, Online Social Credit, Trusted Website Certification.

Cooperative Bank

Baofu cooperates with most large domestic financial institutions such as Industrial and Commercial Bank of China, China Merchants Bank, Bank of Communications, China Construction Bank, Agricultural Bank of China, etc., covers mainstream domestic banks, and fully supports the Internet payment business of major banks. At the same time, it has established strategic partnerships with China Telecom, China Mobile Communications, China Unicom, and international credit card organizations such as VISA, MasterCard, JCB, AE, etc.

Merchant Opening

1. Documents to be submitted:

2. Install the payment interface

After the activation is completed, you can log in to the Baofu merchant backend, download the interface document, and connect with the Baofu payment gateway according to the document content:

FAQ

Q: How to apply for a merchant account?

A: Baofu provides merchants with two application methods:

1. Apply online

Through Baofu's self-service activation page, once all qualification materials are submitted for review, merchant activation can be completed in 30 minutes. Self-service activation is convenient and efficient.

2. Manual acceptance

Merchants can contact the Baofu Marketing Center directly. We will provide one-on-one assistance from professional consultants to quickly complete the application process based on your actual situation.

Q: How to modify/close/delete operator permissions?

A: Click "Modify" on the operator management page to change the operator's login status to "Pause", which means shutting down the operator; click "Delete" on the operator management page to delete the operator; click "Set Permissions" on the operator management page to modify the operator's permissions.

Q: What are the restrictions on operator settings?

A: Only operators with operator management privileges can set operators. Generally, the person who has this privilege is the merchant administrator. The merchant administrator can use this function to set up new operators and set different operation privileges according to different positions. The merchant administrator can grant or cancel the privileges of an operator at will according to different needs.

Development History

-In July 2015, Baofu received a strategic investment of RMB 250 million from Eastmoney to jointly build a "high-quality brand in the field of Internet financial services".

-In 2016, Baofu's annual transaction volume exceeded RMB 366 billion, and its market share ranked among the top eight in the industry.

-In 2017, Baofu's annual transaction volume exceeded 1.5 trillion.

-According to the 2018Q2 quarterly report on Internet payment released by Analysys, Baofu’s market share rose to 7.02%, continuing to maintain the fourth place.