UnionPay to introduce QR code-payment transaction in the UAE

The pilot transaction follows UnionPay International’s (UPI) agreement made in 2019 with Network International to help approximately 10.000 merchant terminals in the UAE to support UnionPay’s QR code-based payment service.

Besides this announcement, UnionPay International has rolled out the mobile payment product of Huawei Pay in Pakistan in partnership with Huawei and the National Bank of Pakistan (NBP). The service allows local Huawei/Honor phone users to pay via both contactless and QR code payments and is the card scheme’s first mobile-wallet service to feature dual payment options overseas, according to the Fintech Times.

The dual payments function of UnionPay's mobile payment products adds QR code-based payment onto contactless payment and can be applied to any NFC-enabled smartphone. Users in Pakistan can link UnionPay cards issued by NBP to the mobile-wallet app Huawei Pay and then can choose to make tap&go or scan&go payments.

Overall, by partnering with more than 2000 institutions worldwide, UnionPay International has enabled card acceptance in 178 countries and regions with issuance in 58 countries and regions. UnionPay cards are currently accepted, online and offline, across the UAE. In 2018, trading volumes of the domestically issued UnionPay cards increased nearly 20% year-on-year, Fintech Times added.