UnionPay and Its Partners Jointly Launch QuickPass--Innovative Finance Benefits Public Welfare and Shapes the Blueprint of Mobile Payment

- SHANGHAI, Dec. 15, 2015 /PRNewswire/ -- On December 12, UnionPay launched QuickPass in Beijing in cooperation with over 20 commercial banks, ushering in an era of mobile payment that is safer and more convenient. From now on, people can pay not only with UnionPay cards but also via its mobile solution QuickPass, with the convenience and financial security provided by its world-leading technology. QuickPass offers a new mobile phone service solution supporting contactless payment technologies centered on NFC, HCE, TSM and Token technologies. The QuickPass product released this time is based on the state-of-the-art HCE (or Host Card Emulation) and Token technologies, hosting the best combination of security and convenience, which represents one of the main trends of mobile payment. It only takes a smart phone with NFC functions (coupled with Android 4.4.2 operating system or above) to create a bankcard substitute--the QuickPass card. The smart phone can then be used for making tap-and-go payments at any POS terminals with a QuickPass sinage or for secure online payment via UnionPay Online Payment (or UPOP) with no SMS verification required. Compared with its competitions, UnionPay QuickPass not only meets the diversified payment needs of cardholders but also has obvious advantages. Firstly, it is safer. With multiple security features guaranteed by innovative technologies such as cryptographic keys and cloud verification, the card number will not be revealed at the point of sale, which effectively protects privacy and sensitive payment information. Secondly, it offers better user experience. The payment flow does not even require internet access or opening up any app. Simply turn on the display and hold the smart phone close to the POS reader and payment is made. Prior to QuickPass, UnionPay has successively launched a series of mobile payment products and services such as SWP-SIM, eSE embedded solution and wearable payment devices in cooperation with telecommunication operators, mobile manufacturers and wearable device manufacturers. The launch of QuickPass marks the joint efforts made by UnionPay and Chinese financial institutions to innovate and offer mobile payment services that are safe, convenient, widely applicable, and beneficial to public welfare. QuickPass mobile payment is already available at over ten thousand locations of 25 franchise chains in mainland China, including Carrefour, McDonald's, Watsons, FamilyMart, and COSTA with exclusive offers for QuickPass users. More merchants are expected to come onboard soon. For more information: http://www.unionpayintl.com/