Retail in Asia

In Trends

China’s UnionPay launches mobile payment service in Canada

UnionPay - Retail in Asia

One of China’s biggest financial networks has launched its mobile payments service in North America. It’s backed by the third largest payment network in the world that’s only behind market leaders Visa and MasterCard. UnionPay cards are now increasingly accepted in countries other than China.

UnionPay QuickPass is available in several markets outside China already, including Singapore, South Korea, Taiwan, and Australia. Its North America launch is currently limited to Canada.

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Users will be able to use their QuickPass chip cards or smartphones with the app at contactless terminals at countless merchants which will include hotels, restaurants, supermarkets, retail outlets, and convenience stores.

No signature will be required from customers if they are paying less than 100 CAD with UnionPay debit cards and no PIN or signature will be required if the transaction amount if below this when paying with a credit card.

This is UnionPay’s first mobile payments foray in the North American market and it has chosen to start out with Canada. It remains to be seen if and when the service will go live in the United States, but so far there has been no indication.

(Source: UberGizmo)