PR93720

SHANGHAI, Dec. 15, 2021 /PRNewswire=KYODO JBN/ --

UnionPay International announced today the launch of its Mobile Phone as POS

(MPP) product in overseas markets. Small businesses are able to turn

smartphones into POS terminals at a low cost and with zero technical

modification, and support multiple types of UnionPay payments such as

card/phone tap and QR Code. Hong Kong fintech SPECTRA Technologies, Malaysia's

AmBank Group and payment company Soft Space became the first group of

organizations to provide this service to their merchants.

A number of survey reports indicate that more and more consumers have been

shifting towards contact-free payments since the COVID-19 outbreak. UnionPay

International, in joint efforts with payment partners, has worked to enable

more than 10 million merchants outside of the Chinese mainland to support

UnionPay mobile QuickPass and QR Code payment, minimizing cash usage and

physical contact that may occur in face-to-face payments while improving the

checkout experience. UPI also launched the PaybyLink solution, with which

merchants are able to accept payments online without the need to set up an

e-commerce store, so that more small and micro businesses outside of the

Chinese mainland benefit from the adoption of mobile payments.

The MPP product will further lower the acceptance threshold for merchants as

they can simply download a designated app onto a smartphone, complete the

registration and review online before the service is activated. Additional

hardware is not required.

The product has been warmly received by acquirers and merchants upon the

launch. In the Hong Kong Brands and Products

Expo<http://www.hkbpe.com.hk/web/subpage.php?mid=310> that recently opened,

more than 100 exhibitors tried to take payments with the MPP product. A

spokesperson for the AmBank Group said that given the product's strong

operability and low cost, the Bank will encourage more SMEs to support UnionPay.

Accepting UnionPay payment services will bring a wide range of local and

cross-border traffic to overseas merchants. Currently, UnionPay cards have been

issued in 70 countries and regions around the world, and over 160 million have

been issued outside the Chinese mainland; more than 100 UnionPay standard

digital wallets have been rolled out in more than 20 countries and regions in

multiple forms such as the UnionPay App, OEM Pay and QR Code wallet.

SOURCE  UnionPay International