Hong Kong's first issue of UnionPay "Cloud Flash Payment"
UnionPay International announced on the 21st that it has cooperated with Bank of China (Hong Kong) ("BOC Hong Kong") to launch UnionPay "Cloud Flash Payment" products in Hong Kong for the first time. Following the issuance of Macao and South Korea in China, UnionPay’s “Cloud Flash Payment†global layout has taken another important step.
Hong Kong cardholders can use the mobile phone to bind the UnionPay dual-currency credit card issued by BOC Hong Kong, and conveniently “swipe†mobile payment in daily life.
According to the relevant person in charge of China UnionPay, “Cloud Flash Pay†supports offline payment for smartphones, wearable devices and UnionPay chip cards, and can also be used for mobile Internet payment. The innovative products represented by “Cloud Flash Pay†have become an important “power point†for UnionPay's international business development, which better meets the diverse payment needs of cardholders.
At present, the scope of acceptance of “Cloud Flash Pay†has been continuously expanded. More than 400,000 POS terminals overseas have supported “Cloud Flash Payâ€, covering Hong Kong, Macao and Taiwan regions, South Korea, Singapore, Canada, Australia, United Arab Emirates, etc.; at the same time, UnionPay International has issued “Cloud Flash Payment†products in areas with a large number of UnionPay cards issued in Northeast Asia, Southeast Asia, etc., to support local residents.
Hong Kong is a relatively common market for UnionPay cards. The local has issued a total of 16 million UnionPay cards, which means that each Hong Kong person has an average of two UnionPay cards. At present, “Cloud Flash Pay†can be used in many daily consumer businesses and nearly 20,000 POS terminals. More Hong Kong card issuers have issued “Cloud Flash Pay†products in succession during the year.
According to the latest data, in 2016, the amount of overseas transactions of UnionPay “Cloud Flash Pay†increased nearly five-fold year-on-year. At present, Australia is the largest overseas market for “cloud flash payment†terminals.
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