UnionPay International (UPI) and Samsung Electronics have introduced a new global mobile payments collaboration based on an ‘NFC-QRC all-in-one’ solution.
The service is set to debut in Hong Kong SAR, with BOC Credit Card (International) acting as the initial issuing partner.
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Under the partnership, UnionPay cardholders worldwide will be able to add their cards to Samsung Wallet and choose either near-field communication (NFC) or QR code when making payments at participating merchants.
The model is intended to give issuers and merchants a choice of payment modes to serve different customer segments and transaction scenarios.
UnionPay International CEO Larry Wang said: “This collaboration with Samsung Electronics and BOC Credit Card is a pivotal practice of leveraging three parties’ strengths to advance cross-border mobile payment ecosystem construction.
“Adhering to the principle of open cooperation and mutual benefit, UnionPay integrates its global payment network with Samsung’s terminal ecosystem advantages to make cross-border payments more convenient and inclusive.”
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By GlobalDataSamsung Wallet, which is available in 62 markets, runs on Samsung Galaxy smartphones and other compatible Android devices. By linking with Samsung Wallet, UnionPay International aims to increase the usage of its mobile Pay services among Android users and to support faster issuance of local digital cards in overseas markets.
Samsung Electronics Mobile eXperience (MX) Digital Wallet Team head and EVP Woncheol Chai said: “The collaboration between Samsung Wallet and UnionPay goes beyond a simple technical integration, marking a significant first step in providing a more convenient and secure mobile payment environment for both companies’ customers.”
UnionPay’s mobile payment services, including mobile QuickPass and QR code payments, are currently accepted in over 100 countries and regions. Outside mainland China, UnionPay mobile QuickPass works at more than 23 million point-of-sale terminals.
