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UnionPay International introduces new wallet solution to open source platform.

M2 EQUITYBITES-June 18, 2019-UnionPay International introduces new wallet solution to open source platform

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Payment provider UnionPay International (UPI) has announced it has added the UPI wallet solution, a new mobile payment solution, through its open source platform, UPI Developer, the company said.

UPI wallet solution will be open to partner institutions, merchants and developers through the UPI Developer platform.

The mobile payment services will integrate with UnionPay cards, providing more opportunities for organizations to develop and streamline mobile payment services for UnionPay's hundreds of millions of cardholders worldwide.

UPI unveiled UPI Developer in January 2019 and has launched 17 application programming interface (API) packages accessible via the platform to date. The platform is designed to provide increased access to UnionPay's payment and data solutions to accelerate the penetration of its mobile payment technology.

The aim of launching UPI wallet solution is to offer a comprehensive range of resources to cater to the changing technological landscape and to provide better support for merchants and institutions. UPI's digital wallet solution offers a one-stop service which includes access to the UnionPay global acceptance network, as well as a variety of UnionPay mobile payment functions, card binding and account management technologies.

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Publication:M2 EquityBites (EQB)
Date:Jun 18, 2019
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