PHOTO
Dubai, UAE: Network International, the leading enabler of digital commerce across the Middle East and Africa (MEA) region, and China’s UnionPay International have successfully executed their first pilot QR code -based payment transaction at a merchant outlet in the UAE.
The pilot transaction follows UnionPay International’s agreement last year with Network International to enable approximately 10,000 merchant terminals in the UAE to support UnionPay’s QR code -based payment service. The initiative aims to bring further convenience to UnionPay cardholders who use the ‘UnionPay’ app, the company’s secure, efficient and fast payment service.
China’s multibillion dollar ‘Belt and Road Initiative’ (BRI) has contributed to the country maintaining its position as the UAE’s largest trading partner for several years. More than 15.9 million Chinese visited the UAE in 2018, according to Dubai Tourism figures, making UnionPay cards an increasingly important tool for payments. UnionPay cards are currently accepted, online and offline, across the UAE. In 2018, trading volumes of the domestically issued UnionPay cards increased nearly 20% year-on-year.
-Ends-
About Network International
Network International comprises of a group of companies and is the leading enabler of digital commerce across the Middle East and Africa (MEA) region, providing a full suite of technology-enabled payments solutions to merchants and financial institutions of all types and sizes, including acquiring and processing services and a comprehensive ever-evolving range of value-added services.
Network International Holdings Plc is the holding company for Network International and the group companies.
About UnionPay International
UnionPay International (UPI) is a subsidiary of China UnionPay focused on the growth and support of UnionPay’s global business. In partnership with more than 2,000 institutions worldwide, UnionPay International has enabled card acceptance in 178 countries and regions with issuance in 58 countries and regions. UnionPay International provides high-quality, cost-effective and secure cross-border payment services to the world’s largest cardholder base and ensures convenient local services to a growing number of global UnionPay cardholders and merchants.
For further information on Network International, please contact:
Network International
Tricia Kaul
ASDA’A BCW
Dubai, UAE
Tel: 971-4-4507600 Fax: 971-4-4358040
Email: tricia.kaul@bm.com
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
