Global Mobile Payments: Samsung and UnionPay International

UnionPay International (UPI) has announced a collaboration with Samsung Electronics. 

The collaboration aims to serve users’ needs based on the ‘NFRC-QRC-all-in-one’ mobile payment solution currently available in Shanghai. 

Global card holders with UPI will be able to link UnionPay cards to their Samsung Wallet, allowing them to choose to pay either with QR Code payment of Near-Field Communication (NFC) payment. 

Bank of China (BOC) Credit Card International. Co., Ltd is the inaugural issuing partner. The first market to launch this service will be Hong Kong SAR. 

Combining payment methods

UPI will expand its reach through the partnership, as Samsung currently operates in 62 countries and regions. 

UPI mobile payment services, which includes UnionPay mobile QuickPass, and UnionPay QR code payment is currently accepted in more than 100 countries and regions. 

The partnership will extend this reach among Android users worldwide, in addition to accelerating local digital card issuance. 

Larry Wang, CEO of UPI comments:  "This collaboration with Samsung Electronics and BOC Credit Card is a pivotal practice of leveraging three parties' strengths to advance cross-border mobile payment ecosystem construction. 

“Adhering to the principle of open cooperation and mutual benefit, UPI integrates its global payment network with Samsung's terminal ecosystem advantages to make cross-border payments more convenient and inclusive. "

Samsung’s dedication to digital wallets

The collaboration is based on the NFC-QRC-all-in-one solution that combines diverse payment options into one app. 

The collaboration between Samsung Electronics and UPI aims to continue the theme of unification among diverse payment options. 

Samsung Pay is number 6 in the popularity contest for digital wallets as it has become known for being the premium wallet for Galaxy users in addition to its biometric security. 

Woncheol Chai, EVP and Head of the Digital Wallet Team at the Mobile eXperience (MX) Business at Samsung Electronics comments: "The collaboration between Samsung Wallet and UPI goes beyond a simple technical integration, marking a significant first step in providing a more convenient and secure mobile payment environment for both companies' customers.”

Woncheol goes on to explain how beneficial the partnership will be for regions outside of Greater China: “Furthermore, the combination of Samsung Electronics' global capabilities and UPI's partnerships with issuers and merchants is expected to contribute to the further activation of mobile payments, both offline and online, not only in the Greater China region but also in the global market.

“In addition to NFC Contactless payments, we will also swiftly introduce QR payments to continuously enhance the competitiveness of Samsung Wallet-UPI payment coverage."

Expanding opportunity for card issuers 

BOC will be the first to issue digital cards based on the partnership.

Stephen Chan, Deputy Chief Executive of Bank of China (Hong Kong), says: "We are delighted that BOC Credit Card has become the first institution in Hong Kong to support the payment service launched by UPI and Samsung Electronics, enabling BOC UPI credit cardholders to enjoy exclusive priority to bind their cards to Samsung Wallet. 

“The service not only offers a convenient payment experience to customers in Hong Kong, but also spearheads the global rollout of Samsung Wallet, marking a key step forward in innovative mobile payments."

No other issuers have yet been named.