UnionPay International (“UPI”) announced today that it has entered into cooperation in mobile payment with U Mobile, a renowned communications carrier in Malaysia. Through applying UPI wallet solution, U Mobile launched e-wallet product GoPayz, through which users may make payments by scanning QR code at 10.8 million merchants supporting QR code payment service in 30 countries and regions by applying for a virtual UnionPay card, or binding a UnionPay physical card issued by U Mobile.
Data from Bank Negara Malaysia showed that in recent years, the turnover of mobile banking and e-wallet in Malaysia has witnessed a remarkable increase, indicating that the mobile payment industry in Malaysia is experiencing high-speed development. At present, the overall coverage rate of UnionPay cards in Malaysia has reached 90%, on the basis of which active efforts have been made by UnionPay International to deploy local mobile payment services to bring convenience to users of UnionPay APP visiting Malaysia. Nowadays, near 100,000 merchants in Malaysia have accepted QR code payment service or supported UnionPay Mobile QuickPass, covering diversified fields like retails, caterings and transportations. For instance, it is now allowed to use at the KLIA Ekspres and KLIA Transit gantries.
As the mobile operator embracing the rapidest development in Malaysia, U Mobile has more than 7 million users. This time, UnionPay International conducts cross-border cooperation with U Mobile in terms of mobile payment, to extend the mobile payment service of UnionPay to a large number of local residents. After applying for a UnionPay virtual card, GoPayz users can make payments by scanning QR code at merchants supporting UnionPay QR code. In the meantime, U Mobile will issue physical prepaid UnionPay cards to users, with which cardholders can directly make payments with cards or bind them with GoPayz for mobile payment.
To conform to the development trend of the international industry, UnionPay International is improving its digital payment service capabilities in a systematic manner. The UPI wallet solution previously has facilitated 17 institutions in 11 countries and regions including Hong Kong, Macao, Southeast Asia, South Asia and the Middle East to launch or upgrade local e-wallet products, such as Sinopay in Macao, NETS PAY in Singapore, BoC Pay of BOC Hong Kong, etc.. Now foreign institutions can log in to UnionPay International Developer Platform to obtain online schemes and guidance, and to deliver mobile payment services to local UnionPay cardholders.