Chinese state-run UnionPay’s international business arm, UnionPay International (UPI) reached an agreement with epay in this regard.
The move allows UnionPay card users across the globe, including Chinese tourists, to use UnionPay’s QR code payments, called UnionPay App, at European outlets.
According to Euronet, the partnership enables epay to boost its portfolio by adding a consumer-focused and user-friendly mode of payment.
Besides, it helps epay provide European merchants with access to a huge number of customers who use UnionPay.
The firm’s retail partners can also incorporate other QR payments in addition to conventional payment methods and several value-added services like tax-free and currency conversion services, gift cards, prepaid cards and loyalty schemes, as part of the new launch.
UnionPay has so far issued over 190 million cards outside mainland China as well as enables card acceptance in 181 countries and regions worldwide.
QR payments is being supported by various smartphones, while retailers can integrate the feature with their current payment infrastructure with minimal investments, noted the firms.
It can monitor payments in real time and has improved authentication capabilities.
UnionPay International deputy head of Europe Shengliang Yang said: “UnionPay is committed to building up the cashless society by providing the most advanced payment technology to the cardholders, and the UnionPay App is a perfect illustration of this.
“By establishing QR code payment cooperation with epay, the UnionPay cardholders will get access to a more convenient payment service with an easy tap through UnionPay App.”
Earlier this month, UnionPay announced an alliance with Korea Easy Payment Foundation and BC Card to enable ZeroPay merchants to make transactions through UnionPay QR codes.