Country for PR: China
Contributor: PR Newswire Asia (China)
Thursday, June 13 2019 - 18:11
AsiaNet
UnionPay International Adds New Mobile Payment Solution Packages to Open Source Platform
SHANGHAI, June 13, 2019 /PRNewswire-AsiaNet/ --

- UPI wallet solution will be open to partner institutions, merchants and 
developers through the UPI Developer platform

UnionPay International ("UPI"), the global leading payment provider, announced 
today the introduction of the UPI wallet solution through its open platform, 
UPI Developer.

Through logging on to the platform, both institutions and independent 
developers can access UPI's mobile payment solution to build their own digital 
wallets, or enrich mobile payment functions and use cases for existing digital 
wallet services. The mobile payment services will integrate seamlessly with 
UnionPay cards, providing more opportunities for organizations to develop and 
streamline mobile payment services for UnionPay's hundreds of millions of 
cardholders worldwide.

UnionPay International continues to deliver innovation and updates to digital 
service capabilities

In response to rapid changes in global consumer payment habits, UPI unveiled 
UPI Developer in January 2019 and has launched 17 application programming 
interface (API) packages accessible via the platform to date. The platform is 
designed to provide increased access to UnionPay's payment and data solutions 
to accelerate the penetration of its mobile payment technology.

Since its launch, UPI Developer has been accessed tens of thousands of times 
and currently connects over 100 overseas partner institutions and independent 
developers with UPI's innovative range of cross-border mobile payment products 
and services. 

"UnionPay International is constantly updating our technical support programs 
based on global consumer habits and mobile payment trends to provide a 
comprehensive suite of digital payment service capabilities," said Mr. Cai 
Jianbo, CEO of UnionPay International.

UPI has built a robust integrated ecosystem that complements traditional 
offline payment and technical support methods with the latest mobile payment 
technology to support partner institutions and merchants across the world. 

"With the launch of UPI Developer, we have fulfilled a growing international 
demand for access to UnionPay's payment services across a variety of use 
cases," said Mr. Cai. "By providing partner institutions and developers 
on-demand access to our products and services, we will be able to rapidly 
accelerate our digital wallet technology and provide more mobile payment 
solutions for international cardholders."

The integration of the wallet solution with UPI Developer will help 
institutions and UnionPay achieve shared growth through cooperation. Together 
with the program guide on the developer platform, developers can access 
multiple APIs to create a digital wallet solution cost-effectively and reduce 
time to market.

Financial institutions and merchants favor digital wallet solutions

The recent Global Mobile Payment Industry Report released by the Global System 
for Mobile Communications revealed there are over 900 million mobile payment 
users worldwide. Organizations need to rapidly develop mobile payment services 
to meet changing consumer payment behavior, and UPI wallet solution will serve 
as an essential tool to help them maintain a competitive advantage.

The aim of launching UPI wallet solution is to offer a comprehensive range of 
resources to cater to the changing technological landscape and to provide 
better support for merchants and institutions. UPI's digital wallet solution 
offers a one-stop service which includes access to the UnionPay global 
acceptance network, as well as a variety of UnionPay mobile payment functions, 
card binding and account management technologies.

Over 17 institutions across 11 regions, including Hong Kong, Macau, South-East 
Asia and the Middle East, have adopted UnionPay's global wallet solution to 
complete or upgrade their mobile wallet products and localize UnionPay's mobile 
payment services to meet the needs of cardholders. 

Serving as an example of successful integration, the Bank of China Hong Kong 
(BOC Hong Kong) combined mobile payment services and QR code payment APIs from 
UnionPay's Developer platform into their e-wallet, BOC Pay. In doing so, BOC HK 
enables its users of BOC Pay to enjoy the same QR code payment service as users 
of the UnionPay app: to make QR code payments at over 10 million merchants 
across 30 countries and regions.

SOURCE  UnionPay International