UnionPay introduces its UMPS platform facilitating adoption of its mobile payment solutions

15 March 2018

UnionPay UnionPay International has introduced its UnionPay International Mobile Payment Service (UMPS) enabling commercial banks, retailers, manufacturers of mobile devices and other third party organizations located outside mainland China to access an array of UnionPay mobile payment services, including UnionPay mobile QuickPass and UnionPay QR code payment using its open API.

Speaking for UnionPay International, Cai Jianbo, CEO, noted that the introduction of the new scheme is expected to have a significant impact on the global expansion of its mobile payment solutions, while at the same time ensuring seamless payment experience for its customers located both in China and beyond.

UMPS has been designed by UnionPay International with the aim of meeting the needs of the whole industry and allowing cardholders to complete their transactions in a matter of seconds. The transactions feature tokenization, which ensures that the sensitive data is not stored on the mobile devices of the parties, and the customers, in turn, may enjoy security and convenience.

Meantime, financial institutions and retailers joining the scheme will be able to seamlessly adopt the mobile payment solutions at lower cost and with short terms required for the rollout. Businesses will not be required to modify their hardware or bear expenses on additional equipment for connecting to the UMPS program.

Later this year UnionPay International plans the launch of Huawei Pay product based on the UMPS. The first country outside mainland China to see Huawei Pay service will be Russia.

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