Fintech & Ecommerce

UnionPay partners Hong Kong virtual bank for the first time

That’s a breakthrough for virtual card issuance in Hong Kong

UnionPay livi

UnionPay partners Hong Kong virtual bank for the first time. Source: shutterstock.com

UnionPay International has partnered livi bank, a Hong Kong virtual bank to issue new virtual digital UnionPay cards.

The report states that livi customers can apply for cards online through the bank’s e-wallet.

Once a Hongkonger opens an account with livi, a UnionPay virtual card will be automatically issued when they enable the QR code payment function.

The card allows its holders to pay with QR code at nearly 40,000 local merchants in Hong Kong.

For now, UnionPay’s QR code payment solutions are supported by over 10 e-wallet products in Hong Kong and Macau.

We’ve reported that American Express will acquire nearly all of Kabbage, a fintech company providing cash flow management solutions to small businesses in the US.

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