SYDNEY, Oct. 9, 2020 /PRNewswire/ — With a significant track record of developing and implementing advanced payment methods around the globe, UnionPay International (UPI) is now introducing UnionPay QR code payment technology to merchants in Australia and New Zealand.
UnionPay, the international payment network serving the world’s largest cardholder base, will be introducing the new technology in response to the growing merchant and user demand for safe, easy, and frictionless mobile payment systems as a result of the COVID-19 pandemic.
UnionPay QR code payment is accepted at over 30 million merchants in 41 countries and regions. It was first launched in 2017, in compliance with the EMV® specifications to offer higher security and interoperability. In the same year, UnionPay launched the UnionPay app, a one-stop mobile payment app featuring the UnionPay QR code payment function, and a platform for savvy merchants to reach more customers by offering special shopping discounts and offers to UnionPay cardholders.
Retailers in Australia and New Zealand are now able to provide easy ‘scan&go’ payments for the safety of their staff and customers. Users of the UnionPay App as well as hundreds of UnionPay-powered e-wallet products around the world will be able to pay quickly and easily within merchants accepting UnionPay QR codes.
Other features available in the UnionPay app in Australia include a location-based service where automated push messaging will make it easier for merchants to stand out. Merchants are also searchable based on category, location, promotion, or offers.
UnionPay International anticipates the adoption of the system by other merchants will increase rapidly as the company works with them to integrate the technology into their businesses. They are also keen to hear from retailers interested in offering a special discount or incentive to UnionPay International cardholders within the UnionPay app.
Dr Jian Jiangtao, an expert in payment solutions and innovative product development, who recently joined UnionPay International’s South Pacific team to lead the company’s operations in the area, said the system had become even more popular in recent months, with an increase in customers wanting to utilise a completely contactless payment, due to the onset of the COVID-19 pandemic.
“While overseas use of the QR code payment method has increased recently, it’s always been a popular mobile payment method since we introduced it as an option integrated within our UnionPay app, which offers fantastic shopping incentives.
“QR codes provide the ultimate contactless payment convenience with the shopper only needing to open the app, scan the retailer’s dedicated QR code and the payment’s all done in a second, without the shopper having to touch anything other than their phone.
“QR codes can be scanned with the most popular smartphone devices, and the payment system is more cost-effective for SME merchants,” added Dr Jian.
The international payment network is available to over 300 million registered users of the UnionPay app, as well as users of e-wallets with UnionPay QR code payment functions.
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About UnionPay International
UnionPay International (UPI) is a subsidiary of China UnionPay focused on international business. In Australia, UnionPay has partnered with major Australian banks such as ANZ, NAB, Westpac, and CBA, as well as 490,000 merchants, with 90% of ATMs and 85% of POS accepting UnionPay cards, almost two-thirds of those also accept UnionPay QuickPass. In New Zealand, UnionPay has partnered with more than 72,000 merchants, with 90% of ATMs and 75% of POS accepting UnionPay cards. Among the merchants UnionPay has collaborated with, about 35,000 POS terminals accept UnionPay QuickPass, more than 1500 E-commerce websites accept UnionPay online payment. UnionPay International provides high quality, cost-effective, and secure cross-border payment services to the world’s largest cardholder base. It ensures convenient, localized services to a growing number of global UnionPay cardholders and merchants.