E-Financial
UnionPay says 4M Merchants Support Mobile Service Outside of China
UnionPay International, the third leading mobile wallet service in China, said that 28.5 million merchants accept Union Pay outside of the country, with 4 million of them supporting the UnionPay mobile payment service.
The company said the expanded use comes amid a boom in outbound tourism from China, with the World Tourism Organization saying that outbound travel from China rose about 14% in 2019.
UnionPay cardholders can make payments in 53 countries worldwide, either by scanning QR codes or tap-to-pay. Year-over-year transactions increased by four times using QR codes on UnionPay, while use of UnionPay’s contactless QuickPass technology for smartphones and wearables rose by 40%.