China UnionPay and Ant Group to Jointly Develop New Payment Terminals

Deep News04-16 17:01

China UnionPay and Ant Group have entered into a strategic partnership for ecosystem development. The collaboration represents an upgrade of their cooperation across multiple sectors, with a focus on innovative payment hardware, stimulating consumption, and improving convenience for public services. The initiative aims to continuously enhance payment services and user accessibility. A key component of the partnership involves the joint research, development, and promotion of new integrated offline payment terminals. These devices will be the first to fully combine major payment methods, including Alipay's "Tap to Pay," UnionPay Mobile Pay, QR code scanning, and card swiping. UnionPay Merchant Services and Alipay have signed a related business cooperation agreement. Additionally, China UnionPay and Ant Group will expand their collaboration into areas such as trade-in programs and incentive-based invoice services.

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