View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
March 15, 2018

UnionPay rolls out new mobile payment service

UnionPay International has unveiled a new service that will make its mobile payment solutions such as UnionPay mobile QuickPass and UnionPay QR code payment available to banks, retailers, mobile phone manufacturers and third party institutions outside China.

The new service, dubbed UnionPay International Mobile Payment Service (UMPS), will enable UnionPay cardholders to make transactions instantly.

To address security concerns, the service leverages tokenisation to ensure that card details are not stored on the mobile device.

For institutions and retailers, UMPS is a low-cost option to launch various mobile payment solutions.

At the same time, mobile phone manufacturers can incorporate a range of mobile payment features to their products by linking their Trusted Service Manager to UMPS, the company said.

UnionPay International CEO 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.”

The company added that UMPS will enable it to roll out Huawei Pay globally in 2018, starting with Russia.

The firm also unveiled plans to launch UnionPay QR code payment in Tajikistan, Japan, Cambodia and Suriname this year.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy


Thank you for subscribing to Electronic Payments International