UnionPay partners with TripLink

Through this collaboration, TripLink receives access to UnionPay’s secure and encrypted risk control systems, allowing its customers to pay their merchants and partners via UnionPay Virtual Commercial Card. The new introduction aligns with the growing trend of online transactions in the tourism sector, with recent studies indicating that two-thirds of revenue in the global travel and tourism market came from online sales channels in 2022. In addition to meeting the evolving needs of businesses, the partnership also expands the issuance coverage of UnionPay in Singapore, allowing more companies to engage in global ecommerce.

According to UnionPay’s officials, B2B payments present a significant opportunity within the payment industry and the company aims to address the issues that businesses encounter when completing transactions. Furthermore, UnionPay wants to provide a diverse and comprehensive range of payment solutions tailored to the unique requirements of its clients. 

UnionPay’s subsidiary UnionPay International is focused on the growth and support of the company’s global business, currently being in partnership with more than 25000 institutions worldwide. UPI enabled card acceptance in 181 countries and regions with issuance in 79 of them. Recently, UPI expanded its international business to improve the payment experience for travellers. More specifically, UnionPay International released an expansion in its cross-border payment services, allowing 170 international wallets to be directly leveraged at Chinese merchants accepting UnionPay.

Moreover, in August 2023, UPI partnered with Kiwibank to enable the latter’s merchants to accept UnionPay cards for in-person payments. The collaboration broadens the company’s card acceptance across several sectors in New Zealand, including food and drinks, accommodation, transportation, entertainment, and shopping, among others. Additionally, besides offering its EMV-compliant security chip payment, Kiwibank also provides UnionPay mobile QuickPass to its customers.

During the same period, UPI collaborated with Payments Network Malaysia (PayNet) to enable cross-border QR code linkage. Through this partnership, the two companies aimed to facilitate full acceptance of the UnionPay App and Chinese-mainland bank apps connected to its network payment platform at the QR merchants in Malaysia. 

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