UnionPay launches digital payment ecosystem

The Platform provides a secure cashless payment solution for 62 digital wallets across 13 countries and territories

UnionPay digital payment ecosystem

UnionPay launches digital payment ecosystem. Source: unsplash.com

UnionPay rolled out the Content & Service Platform (UCSP), establishing a “Pay+” digital ecosystem in collaboration with global firms.

According to the statement, the platform provides value-added services, thus enhancing the user’s experience for digital wallets developed or upgraded to UnionPay standards. Besides, it allows institutions outside of mainland China to offer instant payment for utilities, transport, lifestyle, and entertainment.

In addition to that, the platform will help digital wallets to maintain their competitive advantages. At the same time, industry service providers will be able to expand their distribution channels, thus increasing user traffic. Meanwhile, global users can access multiple services seamlessly through a single mobile app.

UnionPay revealed it will continue to update the platform by providing better value-added services, including big data analysis. It will also support the optimization of partner institutions’ membership systems and consumer behavior analytics.

We’ve reported that Ukrainian PrivatBank has enabled all the merchants and ATM terminals in its network to accept UnionPay cards. This way, UnionPay cardholders are able to make payments or withdraw cash in the country much easier.

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