UnionPay International (UPI) announced today its cooperation with DBS Bank, the largest bank in Singapore, to enable UnionPay QR code services on DBS PayLah!, the bank’s mobile payment app and the largest of its kind in the country. This cooperation, realized through the digital card issuing technology, extends the service availability of PayLah!
UnionPay International (UPI) announced today its cooperation with DBS Bank, the largest bank in Singapore, to enable UnionPay QR code services on DBS PayLah!, the bank’s mobile payment app and the largest of its kind in the country. This cooperation, realized through the digital card issuing technology, extends the service availability of PayLah! from the city-state to the UnionPay QR merchants worldwide, substantially improving the app’s user experience.
In Southeast Asia, UnionPay mobile payment services are accepted in all countries. In the first half of 2022, 100,000 new merchants were enabled, boosting the total number of mobile payment merchants to over a million. In particular, more than 70,000 of these merchants are based in Singapore. Building on the constantly improving acceptance environment, UPI has worked with major partners in Southeast Asia to provide mobile payment services for local consumers. UnionPay cards can now be added to more than 20 e-wallets in the region, including major players such as BeWallet in Thailand and GoPayz in Malaysia.
Singapore residents now simply need to download the DBS PayLah! app and apply for a UnionPay virtual card online to make QR code payments in 45 countries and regions including Singapore, and enjoy a seamless cross-border payment experience. Users do not need to switch between apps when making payments or apply for a physical card. Through this cooperation, UPI is able to provide Singapore residents with better mobile payment services and further promote business localization.
UnionPay’s acceptance network has extended to 180 countries and regions around the world. The acceptance coverage in Southeast Asia has reached over 80%, and more than 180 million cards have been issued outside the Chinese mainland. In response to the changing payment needs, UPI has actively applied to the international market the development experience and technological achievements it has acquired in the Chinese mainland. It has enabled UnionPay mobile payment services at 13 million overseas merchants, and launched more than 140 UnionPay-enabled e-wallets in 30 countries and regions outside the Chinese mainland.
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