UnionPay International — a subsidiary of China UnionPay that provides support for UnionPay cards and mobile payment services in over 180 countries and regions — announced a partnership with global payments infrastructure Wise Platform on Dec 16 to enhance cross-border remittance services to China. The upgraded service introduces two key improvements:

1. Expanded recipient coverage: The service now supports all UnionPay cardholders in China, in addition to Chinese residents. This expansion aims to better serve expats working, studying, or investing in China.

2. 24/7 instant transfers: Select remittance services now operate around the clock, allowing funds to be credited instantly to UnionPay cards for immediate use.

UnionPay International unveiled another collaboration on Dec 17, this time with WeChat Pay. The partnership enables international UnionPay-linked e-wallets to scan WeChat Pay QR codes in China. Eight overseas e-wallets — BoC Pay, Octopus, PayMe by HSBC, Tap & Go, Bangkok Bank Mobile Banking, K Plus, Naver Pay, and ICBC Malaysia Mobile Banking (ICBC Pay) — now support this feature.

Users of these e-wallets can link their UnionPay physical or digital cards to make seamless payments. Transactions are automatically converted to renminbi, or Chinese yuan, providing added convenience for international users.

Sources: Xinhua, Jiemian.com