UnionPay, Network International complete successful pilot QR Code-Payment transaction in the UAE
Published On : 11 March 2020
Service to roll out across 10,000 local merchant terminals
Network International, the leading enabler of digital commerce across the Middle East and Africa (MEA) region, and China’s UnionPay International have successfully executed their first pilot QR code -based payment transaction at a merchant outlet in the UAE.
The pilot transaction follows UnionPay International’s agreement last year with Network International to enable approximately 10,000 merchant terminals in the UAE to support UnionPay’s QR code -based payment service. The initiative aims to bring further convenience to UnionPay cardholders who use the ‘UnionPay’ app, the company’s secure, efficient and fast payment service.
China’s multibillion dollar ‘Belt and Road Initiative’ (BRI) has contributed to the country maintaining its position as the UAE’s largest trading partner for several years. More than 15.9 million Chinese visited the UAE in 2018, according to Dubai Tourism figures, making UnionPay cards an increasingly important tool for payments. UnionPay cards are currently accepted, online and offline, across the UAE. In 2018, trading volumes of the domestically issued UnionPay cards increased nearly 20% year-on-year.