UnionPay International Launches Mobile-wallet in Pakistan, Providing both Contactless and QR Code Payments Service

Stocks and Financial Services Press Releases Friday March 13, 2020 09:55
KARACHI Pakistan--13 Mar--PRNewswire/InfoQuest

UnionPay International announces today that it has rolled out the mobile payment product of Huawei Pay in Pakistan in partnership with Huawei and the National Bank of Pakistan (NBP), one of the largest commercial banks in Pakistan. The new service allows local Huawei/Honor phone users to pay via both contactless and QR code payments and is the card scheme's first mobile-wallet service to feature dual payment options overseas.

The dual payments function of UnionPay's mobile payment products adds QR code-based payment onto contactless payment, and can be applied to any NFC-enabled smartphone. With this function, users only need to link their card to their mobile phone once, and then access multiple mobile payment methods.

Now for users in Pakistan, they can link UnionPay cards issued by NBP to the mobile-wallet app Huawei Pay and then can choose to make tap&go or scan&go payments as they like or according to the acceptance condition of a particular merchant. Additionally, users can access the payment function conveniently by fingerprint authentication, without having to open the app.

As the adoption of mobile payment services gathers momentum, UnionPay International has expanded its services outside mainland China. To appeal to users in different regions, UPI has developed products based on two payment methods, QR code and contactless - providing a seamless payment experience whenever, wherever. The launch of the dual payment function will enable UPI's partner institutions to provide their customers with diverse and more flexible mobile payment services with higher efficiency.

Several factors contributed to the launch of the new function in Pakistan. In Pakistan, mobile payment get a boost with an increasing number of young people relying on smartphones and digital wallets to make payments. Meanwhile, UnionPay is accepted nationwide with some 300 thousand merchants accepting payment by UnionPay QR code. And with 12.6 million cards issued locally, "UnionPay" is the second-largest international card scheme in terms of card issuance in Pakistan, with over 2.75 million issued in partnership with NBP.

To date, over 4.5 million merchants outside the Chinese mainland accept UnionPay mobile service in 57 countries and regions. A total of 53 mobile-wallet products developed or upgraded based on UnionPay's technical standards have been launched in 13 markets, offering local customers mobile contactless or QR code payment services.

About UnionPay International

UnionPay International (UPI) is a subsidiary of China UnionPay focused on the growth and support of UnionPay's global business. In partnership with more than 2000 institutions worldwide, UnionPay International has enabled card acceptance in 178 countries and regions with issuance in 58 countries and regions. UnionPay International provides high quality, cost-effective and secure cross-border payment services to the world's most extensive cardholder base. It ensures convenient local services to a growing number of global UnionPay cardholders and merchants.

For more information, please visit: www.unionpayintl.com/en

Latest Press Release

Photo Release: KBank and EGAT Saving and Credit Cooperative signs an agreement to integrate financial service via mobile app

Mr. Silawat Santivisat (right), KBank Senior Executive Vice President, and Mr. Chartchai Rojanaratanangkule, Vice President and President of Financial Management Committee, EGAT Saving and Credit Cooperative Limited, signed an agreement on the...

Thailand-based insurtech Go! Insurance secures funding to launch its easy-to-access health insurance platform

Go! Insurance - a Thailand-based digital health insurance company - has raised pre-seed funding from investors and will be launching its service in Thailand to provide better and easier access to health insurance. Founded in late 2019 by two insurance...

K PLUS launches new features for loan management via K PLUS – you can pay off your loan faster without going to a bank branch

KASIKORNBANK (KBank) is always determined to give customers more convenience. With the launch of four new features on K PLUS, customers can easily manage and conduct their loan transactions via the K PLUS application, with no need to go to a bank branch....

Thailand’s Economic Front in Fighting COVID-19

Thailand has performed well in containing the COVID-19 outbreak and mitigating its impact. Since 27 April 2020, the number of new COVID-19 cases has increased only slightly, while some days saw no new cases at all. About 96 per cent of those infected...

KTC extends moment of happiness with worthwhile shopping trips at leading supermarkets.

Mr. Sorachach Srilamul, Senior Manager - Credit Card Business, “KTC” or Krungthai Card Public Company Limited, provides cardmembers happiness with household savings to shop at leading supermarkets with KTC credit cards, including Big C / Mini...

Related Topics