UnionPay sets out its mobile payments rollout plans

UnionPay International has recently launched UnionPay International Mobile Payment Service (hereinafter referred to as UMPS), which enables commercial banks, retailers, mobile phone manufacturers and third party institutions outside mainland China to get access to multiple UnionPay mobile payment solutions, including UnionPay mobile QuickPass and UnionPay QR code payment, via the open API of UMPS.

UnionPay International is endeavoring to expand the acceptance scope of the "UnionPay" APP outside mainland China and is partnering with commercial banks and retail groups to carry out collaboration in e-wallet business. CEO of UnionPay International Cai Jianbo said, "The launch of UMPS will contribute to the global rollout of the UnionPay mobile payment products, offering UnionPay cardholders smooth mobile payment experiences both in and outside mainland China, and further facilitating the 'going global' of China's mobile payment services, technologies and standards."

At the Macau Food Festival held at the end of last year, over 150 dining merchants accepted UnionPay QR code payment. At the Colourmix in Hong Kong, UnionPay cardholders are able to enjoy exclusive offers when making payments by scanning the UnionPay QR code. Customers in Singapore who have UnionPay cards issued by the Bank of China (Singapore) are able to download "BOC E-wallet" to experience the convenience of UnionPay QR code payment. These are achieved thanks to the technical support of UMPS.

UMPS is developed by UnionPay International according to the needs of the global payments industry and has multiple advantages. To UnionPay cardholders, transactions can be completed in timeframes of seconds and tokenization is adopted so that the authentic bankcard number is not stored on the mobile phones, which ensures the convenience and safety of mobile payment. To institutions and retailers, the platform provides diverse and low-cost mobile payment solutions that can be launched easily. These solutions include the QR code payment service, which needs no hardware modifications for small and medium-sized merchants, and the QR code solution with both payment and discount functions for large-scale or chain merchants.