UnionPay International (UPI) has partnered with Malaysian telecom company U Mobile to offer local people with mobile payment service.
Under the collaboration, U Mobile launched e-wallet product GoPayz using the UPI wallet solution.
The offering will enable the users to make payments by scanning QR code across 10.8 million merchants in 30 countries.
The U Mobile customers will also be able to pay using a virtual UnionPay card or binding UnionPay physical card issued by the company at certain locations.
U Mobile will issue physical prepaid cards to users, while they need to apply to procure a UnionPay virtual card.
U Mobile has more than seven million users in Malaysia.
The collaboration aims to tap the growing mobile banking and e-wallet usage in Malaysia. According to the central bank of the country, Bank Negara Malaysia, the new payment alternatives witnessed a substantial increase.
Currently, the overall coverage rate of UnionPay cards in Malaysia is around 90%. Based on this data, UPI made significant strides to deploy local mobile payment services to help UnionPay app users visiting Malaysia.
According to the company, around 100,000 merchants in Malaysia accepted QR code payment service or supported UnionPay Mobile QuickPass.
UnionPay International is working to strengthen its digital payment service capabilities across the world.
Recently, it signed an agreement with Italian bank and card acquirer Banca Sella. The deal allows a large number of online and offline merchants in Italy to accept UnionPay payments.
