UnionPay International (UPI), together with Samsung Electronics, has rolled out a collaborative payment service based on the NFC-QRC all-in-one mobile payment solution.
Debuting in Shanghai, global cardholders are set to be able to connect their UnionPay cards to Samsung Wallet and select between NFC Payment or QR code payment for transactions. Hong Kong SAR represents the first market to roll out the service, with BOC Credit Card (International) positioning itself as the inaugural issuing partner.
Optimising mobile payments at scale
Considering the scale of the Samsung Wallet service, which is currently available in 62 countries and regions across the globe, the collaboration is set to substantially extend the reach of UnionPay’s mobile Pay service among Android users and drive local digital card issuance. The strategic initiative will see UPI closely collaborating with Samsung Electronics to introduce exclusive instant discount promotions in Hong Kong SAR for UnionPay cardholders utilising Samsung Galaxy smartphones.
Expanding on this, Larry Wang, CEO of UnionPay International, mentioned that the partnership with Samsung Electronics and BOC Credit Card comes as a practice of using three parties’ capabilities to optimise cross-border mobile payment ecosystem construction. Following the principle of open cooperation and mutual benefit, UnionPay integrates its payment network with Samsung’s terminal ecosystem features to increase the convenience and inclusivity of cross-border payments.
Furthermore, the NFC-QRC all-in-one solution comprises one app for diverse payment options. The service allows cross-border partner institutions to roll out two UnionPay mobile payment solutions concurrently, serving the needs of several user groups globally.
At the time of writing, UnionPay mobile payment services, including UnionPay mobile QuickPass and UnionPay QR code payment, are accepted in over 100 countries and regions. In addition to China’s mainland, UnionPay mobile QuickPass services are accepted at 23 million POS terminals, according to company data. Moreover, QR code interoperability projects have been achieved or introduced across nearly 50 countries and regions.
