UnionPay International signs long-term partner agreement with global payment innovator Verrency

Stocks and Financial Services Press Releases Friday January 19, 2018 08:55
The Asian Banker--19 Jan--Asian Banker

Verrency signed a long-term agreement with UnionPay International (UPI), a wholly owned subsidiary of China UnionPay (CUP), to offer Verrency's innovative value-added services to Union Pay's issuing banks across Asia.

Verrency's services will be delivered via the UPI Wallet, Union Pay's innovative API service. Signing the formal agreement were David C. Link, Chief Executive Officer/ Executive Chairman, Verrency, and Shuan Ghaidan, Product Director, UnionPay International.

Shuan Ghaidan said: "We are very glad to be working with Verrency to offer further control, service, convenience and security to our customers. Verrency's innovative services will further enhance the value of the UPI Wallet and the value that Union Pay enables for its issuers. We are devoted to providing innovative, safe, and convenient payment services for our global cardholders."

David Link said: "We are excited to be working in partnership with Union Pay to offer a set of innovative value-added services for its issuers. Union Pay is known for its relentless focus on its issuers and cardholders, and the UPI Wallet is a great example."

Founded in 2016, Verrency is a highly innovative global FinTech firm that focuses on enabling major financial institutions to rapidly and inexpensively drive significant innovation via their existing payments technologies and networks.

As an open-API platform service, Verrency enables institutions and card processors to easily offer consumer services that provide increased security, control, and choice, including the ability for consumers to easily pay anywhere using different funding sources (including bank accounts, loyalty points and rewards), to manage payment devices and virtual cards, and to easily connect to third-party fintech services.

UPI is a subsidiary of China UnionPay focused on the growth and support of UnionPay's global businesses. In partnership with more than 1,000 institutions worldwide, UnionPay International has enabled card acceptance in 160 countries and regions with issuance in more than 40 countries and regions.

UPI provides high quality, cost effective and secure cross-border payment services to the world's largest cardholder base and ensures convenient local services to a growing number of global UnionPay cardholders and merchants.

Re-disseminated by The Asian Banker from PRNewswire
--www.theasianbanker.com (Jan 19, 2018)--

Latest Press Release

SET welcomes restaurant operator Zen Corporation Group on February 20

The Stock Exchange of Thailand (SET) will list Zen Corporation Group pcl – a leading operator of restaurant brands in Thailand – on February 20, under the ticker symbol "ZEN". The company has a market capitalization at its initial public...

Photo Release: EXIM Thailand Holds FX Risk Management Seminar Phase 2 To Promote FX Risk Hedging Tools for SME Exporters in the Northeast

Mr. Chana Boonyachai (center), Executive Vice President of Export-Import Bank of Thailand (EXIM Thailand), recently welcomed Mrs. Thatsanee Tangpattanasiri (right), Director, Northestern Regional Office, Bank of Thailand (BOT), and Mr. Ranon Keowsuddhi...

Frasers Property Thailands Revenue Increased 341% to 2.577 Billion Baht and Net Profit Rose 190% to 684 Million Baht in Q1/2019

Revenue totalled 2.577 billion baht, an increase of 1.993 billion baht or 341% year-on-year, while net profit totalled 684 million baht, a growth of 190% year-on-year. Embarked on a "Total Dimension" strategy to become leading provider of smart...

Photo Release: EXIM Thailand Visits Xayaburi Hydroelectric Power Project

Mr. Nopporn Thepsithar (fifth left), Chairman of the Board of Executive Directors, Export-Import Bank of Thailand (EXIM Thailand) and Dr. Narongchai Akarasanee (center), former Minister of Energy, recently visited Xayaburi Hydroelectric Power Project...

Thailands Promotion of Advanced Technology and Eco-system Development Enables Local Producers to Fly Higher

Thailand has been experiencing a gradual shift from a manufacturing to a high-value manufacturing economy after the country has put all its efforts into promoting the use of advanced technology, science, and innovation in parallel with the development of...

Related Topics