UnionPay has made new progress in rolling out mobile QuickPass worldwide. Following the issuance of UnionPay HCE mobile QuickPass products in Macau and South Korea, UnionPay International announced on February 21st its cooperation with Bank of China (Hong Kong) (hereinafter referred to as BOCHK) in issuing UnionPay mobile QuickPass products for the first time in Hong Kong. Hong Kong cardholders may link their mobile phones to UnionPay dual-currency credit cards issued by BOCHK, allowing them to make daily transactions conveniently using their mobile phones.
UnionPay mobile QuickPass supports offline payments with smartphones, wearable devices and UnionPay chip cards as well as online mobile payments. Innovative products such as mobile QuickPass are crucial in the expansion of UnionPay International. These products meet cardholders’ diverse payment needs and enhance the service capability of the UnionPay network. There are more than 400,000 POS terminals in markets outside mainland China that accept mobile QuickPass. These markets include Hong Kong, Macau, Taiwan, South Korea, Singapore, Canada, Australia and the UAE. UnionPay International has also issued mobile QuickPass products in Northeast Asia and Southeast Asia, where UnionPay cards have been issued on a large scale, to offer payment services to local residents.
Hong Kong is a market where UnionPay cards are commonly used. A total of 16 million UnionPay cards have been issued accumulatively in the market, meaning that each Hong Kong resident has two UnionPay cards on average. Based on extensive card issuance, UnionPay International offers mobile QuickPass to provide more flexible payment experiences. Mobile QuickPass is accepted at about 20,000 POS terminals in Hong Kong, including merchants such as SOGO, 7-11, Mannings and Tsui Wah Restaurant. More institutions in Hong Kong will issue mobile QuickPass products this year.
UnionPay mobile QuickPass service has many advantages: First, it is convenient. Customers can pay with mobile QuickPass at all POS terminals displaying the QuickPass signage both in and outside mainland China. In mainland China this includes more than 10 million POS terminals in merchants including KFC, McDonald’s, Watsons, Starbucks, and FamilyMart. Mobile QuickPass is also available in the mobile apps of Ctrip, China Eastern Airlines, 360buy.com and dianping.com, among others. Second, it is safe. Mobile QuickPass uses multiple security measures including dynamic security codes and payment tokens to ensure payment security. The authentic card number is not displayed at the time of payment and the transaction information is kept within the network of the issuer and UnionPay.
The transaction volume of mobile QuickPass in markets outside mainland China grew five-fold in 2016. This means that mobile QuickPass is gaining popularity among more and more cardholders and merchants. At present, Australia is the overseas market with the largest number of POS terminals accepting mobile QuickPass. Half of the physical stores accepting UnionPay there support mobile QuickPass. In Macau, UnionPay is the most commonly used international bankcard brand in terms of contactless payment. Doota Mall, GS25 Convenience Store, Watsons and GongCha in South Korea as well as Kamalan Bus, Taipei Leechi, and KingStone Bookstore in Taiwan all accept mobile QuickPass.