UAE-based leading contactless and cashless mobile payment provider PayBy has partnered with UnionPay International (UPI) in order to launch UnionPay virtual cards in the Emirates.
The partnership between PayBy and UnionPay is another innovation in card-issuing business models, leveraging digital technology platforms to bring the benefits of the cashless economy to all sections of society.
UnionPay International is a subsidiary of China UnionPay focused on the growth and support of UnionPay’s global business.
Mr. Sean Wang, founder, and CTO at PayBy said that, “PayBy’s partnership with UnionPay, the world’s largest cardholder network, is a milestone on our growth journey, and will significantly boost consumer adoption and merchant acceptance. We look forward to adding more services in the months to come, increasing relevance to more cardholders and merchants and, in turn, accelerating our merchant sales volume.”
According to the company, “PayBy users can now use their UnionPay virtual cards located within the app at over 222,000 merchant terminals that accept QR Code and NFC contactless services.”
Residents can use UnionPay cards to complete daily transactions, such as shopping in supermarkets and paying taxi fares.
“UnionPay International is committed to improving customer experiences of digital payments. Our landmark partnership with PayBy will accelerate UnionPay’s acceptance and usage in the country. UAE merchants benefit from capturing sales opportunities and accept payments from an ever-expanding circle of cardholders. Together, we look forward to strengthening the UAE’s cashless ecosystem,” commented Mr. James Yang, General Manager of UnionPay International Middle East Branch.
In partnership with more than 2500 institutions worldwide, UnionPay International (UPI) has enabled card acceptance in 180 countries and regions with issuance in more than 70 countries and regions.
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