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Agricultural Development Bank of China
Company

China UnionPay launches contactless payment service in Singapore

April 07, 2020


Abstract : China UnionPay announced on Monday that it recently launched a contactless payment service in Singapore.

BEIJING, April 7 (Xinhua) -- China UnionPay announced on Monday that it recently launched a contactless payment service in Singapore.

The contactless payment service Huawei Pay was jointly launched by UnionPay International, a subsidiary of China UnionPay, the Chinese tech giant Huawei, and the Singapore branch of the Industry and Commercial Bank of China (ICBC).

UnionPay credit card holders of ICBC can enjoy the advanced mobile payment service on Huawei and Hornor smartphones.

The launch of the Huawei Pay offers Singaporean residents a secure payment choice amid the outbreak of the novel coronavirus pneumonia. With the service, users can finish paying within a short period of time without the need to unlock their mobile phones and open payment apps, thus reducing the risk of epidemic spread.

A large number of Singaporean merchants such as the supermarket group NTUC FairPrice and the retail group Dairy Farm Group and nearly 10,000 taxis support such payment service.

UnionPay has become a well-known payment brand in Singapore. Almost all local ATMs and over 90 percent merchants support UnionPay cards. Six local institutions, including the Singapore branch of ICBC, have issued UnionPay cards.

In response to the changing payment habits of consumers, UnionPay International has accelerated developing its mobile payment business in recent years.

The company inked a cooperation agreement with Huawei in 2018. The two parties then successively launched Huawei Pay service for local UnionPay cardholders in Russia, Hong Kong and Pakistan.

So far, more than 4.5 million merchants in 57 countries and regions have accepted UnionPay mobile payment service. (Edited by Su Dan with Xinhua Silk Road, silviasu07@163.com)

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Keyword: UnionPay mobile payment company amid epidemic

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