Millions of UnionPay card users from around the world, including Chinese tourists, gain access to their favorite mobile payment method for use at European retailers
UnionPay, one of the world’s largest card payment networks, and epay, the full-service payment provider owned by Euronet Worldwide Inc. (NASDAQ: EEFT), have launched UnionPay’s innovative QR code payment service in Europe, the companies announced today.
The agreement between UnionPay’s international business unit, UnionPay International (UPI), and epay, Europe’s leading full-service payments provider and a global leader in digital payments processing and prepaid solutions, represents the first time UnionPay’s QR code payments — also known as UnionPay App — can be settled in Europe for Chinese tourists and other UnionPay card users from all over the world.
Through this new partnership, epay is expanding its portfolio with the addition of a consumer-centric and user-friendly payment method. In its domestic Chinese market in recent years, the service has grown into one of the most popular QR payment methods as UPI has expanded the ecosystem for payments in response to growing consumer interest in simple, contactless mobile payment methods.
More than 13 million merchants in 96 countries and regions outside the Chinese mainland now support the UnionPay mobile payment method. Entry into the European market marks a great milestone for UPI, with customers able to benefit from the option to pay easily, securely and quickly.