UnionPay’s “mobile phone as POS” product debuts overseas, benefiting small and micro merchants in Hong Kong SAR and Malaysia first

SHANGHAI, December 15, 2021 /PRNewswire/ — UnionPay International today announced the launch of its Mobile Phone as POS (MPP) product in overseas markets. Small businesses are able to turn smartphones into POS terminals at low cost and without any technical changes, and support multiple UnionPay payment types such as card/phone payment and QR code. hong kong Fintech SPECTRA Technologies, malaysia AmBank Group and payment company Soft Space have become the first group of organizations to provide this service to their merchants.

A number of survey reports indicate that more and more consumers are turning to contactless payments since the COVID-19 outbreak. UnionPay International, through joint efforts with payment partners, has enabled more than 10 million merchants outside the Chinese mainland to support UnionPay’s QuickPass and QR Code mobile payment, minimizing thus the use of cash and physical contact that may occur during face-to-face payments. while improving the payment experience. UPI also launched the PaybyLink solution, with which merchants can accept payments online without the need to set up an e-commerce store, so that more small and micro businesses outside of mainland China will benefit from adopting the mobile payments.

The MPP product will further lower the acceptance threshold for merchants as they can simply download a designated app on a smartphone, complete the registration and review it online before the service is activated. No additional hardware is required.

The product was warmly received by acquirers and merchants upon its launch. In the Hong Kong Brands and Products Fair which recently opened, more than 100 exhibitors attempted to accept payments with the MPP product. A spokesperson for AmBank Group said that given the strong operability and low cost of the product, the bank will encourage more SMEs to support UnionPay.

Acceptance of UnionPay payment services will bring a wide range of local and cross-border traffic to overseas merchants. Currently, UnionPay cards have been issued in 70 countries and regions around the world, and more than 160 million have been issued outside mainland China; Over 100 UnionPay standard digital wallets have been deployed in over 20 countries and regions in multiple forms such as UnionPay app, OEM Pay and QR Code wallet.

SOURCE UnionPay International

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