#China #Shanghai #UnionPay #Weixin Pay #Mobile Payments

UnionPay International Collaborates with Industry Partners to Simplify Payments for International Visitors

In a significant move to enhance the travel experience for international visitors in mainland China, UnionPay International has teamed up with Weixin Pay. Announced on December 17, this collaboration allows users of specified international wallets, powered by UnionPay, to effortlessly make payments through Weixin Pay by scanning QR codes during their stay in China. This integration brings substantial advancements in payment convenience for global travelers.

Expanding Payment Options for Travelers

This new functionality enables users from eight different international wallets to engage in Weixin Pay transactions. These wallets include BoC Pay from Bank of China (Hong Kong), Octopus, PayMe by HSBC, and Tap Go from Hong Kong, as well as Bangkok Bank Mobile Banking, K PLUS from KASIKORNBANK in Thailand, Naver Pay in South Korea, and ICBC Mobile Banking in Malaysia. By linking their physical or digital UnionPay cards to these wallets, users can seamlessly scan Weixin Pay QR codes, with real-time conversion of their home currency into RMB.

This enhancement not only streamlines the payment process but also aims to improve the overall experience for international visitors, providing them with a multitude of mobile payment options. Looking ahead, UnionPay plans to expand the reach of Weixin's QR payments to additional wallets across the Macao SAR, other Southeast Asian countries, the Pacific region, and more regions globally.

Promoting Open Collaboration in Payment Systems

The partnership is part of UnionPay's broader Project Excellence 2024 initiative, launched in March, which focuses on fostering open collaboration with industry partners. This initiative aims to provide visitors arriving in mainland China with a frictionless payment experience. Notably, since June, UnionPay application users have had the ability to scan various Weixin Pay codes provided by merchants, marking the initial step towards more extensive interoperability between the two systems.

The inclusive nature of this partnership reflects UnionPay's commitment to enhancing connectivity with different players in the payment processing sector. By implementing this collaboration, UnionPay is promoting a sustainable business model while simultaneously elevating the payment experience for international visitors in China.

Building on Past Collaborations

UnionPay's journey with Weixin Pay started back in 2018, when it first introduced cross-border payment solutions through collaboration with WeChat Pay HK, a wallet in HKD. This initiative helped support cross-border consumption, allowing Hong Kong residents to pay at numerous merchants in mainland China.

As UnionPay continues to localize its offerings, a growing number of users outside mainland China have benefited from UnionPay's convenient payment solutions. To date, over 250 million UnionPay cards have been issued in 83 countries and regions, and more than 200 wallets powered by UnionPay have been launched in 36 countries. This extensive network promotes acceptance and usage of UnionPay services globally.

In conclusion, UnionPay International's recent partnership with Weixin Pay signifies a noteworthy advancement in the realm of mobile payments for international visitors to China. This collaboration not only enhances convenience but also contributes to the development of a more interconnected global payment ecosystem, making transactions smoother for travelers navigating their journey in mainland China.