China UnionPay pushes mobile payment

In an interview with the reporters on the 25th, Xu Lund, president of China UnionPay, said in the interview that in the future, China UnionPay will increase its efforts in the Internet and mobile payments, including the creation of online CUP projects and promotion of UnionPay standard mobile payment services nationwide. Xu Luode made the above statement after attending the signing ceremony of cooperation agreement between China UnionPay and Societe Generale to sign the global acquiring business.

Xu Luode also said that in recent years, China UnionPay has continuously strengthened its cooperation with relevant institutions at home and abroad, allowing UnionPay cards to follow the Chinese people's "going out" pace to the world. It not only provides more convenient services for UnionPay cardholders' domestic and foreign card use, but also creates value for partners and realizes the “common development and harmonious win-win” of related parties. Today, China UnionPay and Societe Generale carry out global cooperation, will integrate the market advantages of both parties, further expand the use of UnionPay cards, and enhance the service level of both parties' common customers.

For the online CUP project, Xu Luode explained that this will change the traditional pattern of traditional merchants' card swiping but embodies the trend of online payment. Specifically, it will be promoted in two aspects. First, to provide more merchants with the online transaction method of UnionPay's standards, that is, the B2C transaction model, which will promote the conversion of over 2 million offline merchants to online merchants. In addition, it will also promote There UnionPay standard payment methods access to various payment platforms. Second, optimize the existing CUP standard online payment methods to make it more convenient and safer.

In terms of mobile payments, Xu Luode said that China UnionPay has already entered mobile payment pilots in six provinces and cities, and has launched four products based on mobile payment, and will promote UnionPay's standard mobile payment methods nationwide. In the future, these measures will be jointly promoted by joint commercial banks and telecommunications operators to achieve a win-win situation for the three parties.