Due to the agreement, UNPay will provide payment solutions and remittance services for Yunfeng Financial, while the latter will provide wealth management services for UNPay’s customers. The two companies will complement each other through the sharing of resources, multichannel accessibility and capabilities in the industries in which they activate.
The two companies will also explore innovations in financial technology to drive breakthroughs in offering diverse financial services for merchants globally, according to the press release.
In addition, UNPay and Yunfeng Financial will launch their first cross-border wealth management service, “You Yi Bao”, which offers a flexible way for companies with cross-border operations to manage idle funds. The product can provide a range of terms and auto-rollover function upon maturity allowing customers to choose to withdraw funds at any time.
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