Chinese Financial Heavyweight UnionPay Launches Self-service Platform Featuring Digital Yuan Payment Options
UnionPay is debuting a digital yuan self-service feature to assist merchants with seamless and speedy transactions.
The smartphone giant Xiaomi has a large number of existing users so the payment service is expected to grow rather fast.
UnionPay is debuting a digital yuan self-service feature to assist merchants with seamless and speedy transactions.
Visa and Mastercard’s decision to cut links with Russia has seen Russian banks turn to China’s UnionPay for assistance.
The proposed launch of the crypto payment card by UnionPay and Danal is daring amidst recent clampdowns of cryptocurrency-based activities by the Chinese government.
Both merchants and end-users of STICPAY can transfer funds across borders via an e-wallet service that offers a viable alternative to the flawed cross-border payment solutions.
Within the partnership, UnionPay cardholders will be able to add their UnionPay cards to PayPal accounts and use them in countries where PayPal is accepted.
The collaboration between Tencent and UnionPay would allow merchants to accept payments from one customer using WeChat Pay and another using UnionPay’s QuickPass by presenting both with the same scannable code.
A senior official of China’s central bank announced at the China Finance 40 Group meeting that the country will soon roll out its central bank digital currency (CBDC).
China UnionPay, one of the major players in China, attempts to patent a blockchain-related technology for connecting a network of ATMs.
The smartphone giant Xiaomi has a large number of existing users so the payment service is expected to grow rather fast.