SINGAPORE - Media OutReach - November 30, 2018 - In a bid to support the Singapore government in driving
cashless payments, UNPAY, a global fintech company that enables cross-border
financial services via its open platform, has ramped up efforts in promoting QR
code payment among the retail merchants locally. For a start, UNPay will
provide its merchants with popular Chinese QR code payments, and is looking to
expand its reach to include the region's QR code payment providers by the
second half of next year.
About 1.9 million Chinese tourists1 visited
Singapore between January to July 2017, making China one of the biggest
contributors to Singapore's visitor arrivals. While in Singapore, Chinese
tourists spent a whopping $3.08 billion2 in tourism receipts in
2017, which is a 10% increase from the year before. The Singapore Tourism Board
estimates that this number is set to grow.
Recognising that there is a need to cater to this burgeoning
segment in the market, UNPay has─in its first phase─acquired merchants in the
hospitality and food and beverage sectors. UNPay will support these merchants
with popular QR code payment methods such as Alipay and WeChat Pay, enabling the inbound Chinese
tourists to pay via their preferred payment methods. In the coming months,
UNPay will also be progressively acquiring foreign e-wallets to provide more
payment options for inbound tourists around the world.
Since its inception in June
last year, UNPay is currently connected to over 500 online payment methods,
achieving a comprehensive coverage of more than 200 countries and regions.
Within a short span of time, UNPay has become the world's most extensive
payment service network. The business currently spans industries in travel,
education, e-commerce and digital entertainment.
Zhang Zhenghua, CEO and Founder of UNPay, expressed, "Through
our active acquisition of merchants, we hope to drive the use of QR code
payment in Singapore, keeping in line with the rollout of SGQR code in
September. We are confident that with our expertise and technology, we
will be able to bring greater benefits to our merchants via our integrated
payment platform, while providing a more seamless and convenient way for consumers
During this holiday season, customers who
pay with Alipay or WeChat Pay supported by UNPAY, can look forward to enjoying
exclusive deals such as complimentary daily breakfast, free make-up set from
popular Korean brand as well as a complimentary beer or housepour with every
two paying drinks. For more information, please follow the UNPay WeChat