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UnionPay's "Mobile Phone as POS" Product Debuts Overseas, Benefitting Small and Micro Merchants in Hong Kong SAR and Malaysia First
The MPP product will further lower the acceptance threshold for merchants as they can simply download a designated app onto a smartphone, complete the registration and review online before the service is activated. Additional hardware is not required.
The product has been warmly received by acquirers and merchants upon the launch. In the Hong Kong Brands and Products Expo that recently opened, more than 100 exhibitors tried to take payments with the MPP product. A spokesperson for the AmBank Group said that given the product's strong operability and low cost, the Bank will encourage more SMEs to support UnionPay.
Accepting UnionPay payment services will bring a wide range of local and cross-border traffic to overseas merchants. Currently, UnionPay cards have been issued in 70 countries and regions around the world, and over 160 million have been issued outside the Chinese mainland; more than 100 UnionPay standard digital wallets have been rolled out in more than 20 countries and regions in multiple forms such as the UnionPay App, OEM Pay and QR Code wallet.