HANGZHOU, CHINA / SINGAPORE - Media OutReach - 11 January 2019 - Inrecognition of its next-generation, one-stop financial service platform, UnPAY,has emerged as the winner of the 2018 Innovation Company Award, an annual awardhosted by Ali Alumni. Held in Hangzhou yesterday, the annual Ali Alumni NewYear Reception also unveiled the finalists of "2018 Ali Alumni EntrepreneurshipHuangpu List". UnPAY, which is founded by Zhang Zhenghua, an Ali alumnus, wasthe only finalist in a payment technology (Paytech) company to bag thisprestigious award.

The Ali Alumni, whichcomprises over 1000-member companies, was formed by former employees of Chineseconglomerate, Alibaba, prior to setting up their own companies. They form almosthalf of the Internet and technology entrepreneurial circle in China. The "AliAlumni Entrepreneurship Huangpu List" which returns in its fifth-yearrunning, is also known as the startup barometer, that gives investors and themarket a sense of how various startups are faring. The total number ofcompanies published in this list exceeds 1200, with a total valuation of over100 billion yuan.

As the pioneer member in Alipay,Zhenghua initiated its first consumer product in Alipay and has been under thespotlight since he started UnPAY. Today, UnPAY, which iscommitted to building a borderless payment ecosystem, has developed into one ofthe most promising full-service payment brands globally.

Zhenghua emphasised that UnPAYaims to creates an open platform for payment without borders while providing integratedpayment technology services for financial institutions and merchants globally."Paytech is different from Fintech in that it has more technologicalinnovations, not only changing the payment infrastructure, payment methods but tothe extent of impacting the directions of the entire payment service and flow."

"The "Ark" corepayment system which was wholly developed by UnPAY last year, has realised theback-end capability of performing the four pillars worldwide: local collections,exchange transfers, bank virtual accounts, and fund issuance of merchantchannels. It is also connected to over 500 mainstream payment methods in variouscountries and regions", elaborated Zhenghua. "UnPAY's payment channel comprisesan extensive and in-depth global payment service network, which has paved the wayfor its next phase of rapid development globally. Even in its nascent stage,UnPAY's superior platform is already favoured by governments and financialinstitutions," he added.

In the second half of lastyear, UnPAY has established a strategic cooperation with Yiwu officials todevelop the city of Yiwu into the leading cross-border financial centre inChina. It is also in active discussions with the governments of Middle East,Africa, and Europe regarding the construction of their advanced payment infrastructuresas well as helping them to develop into smart cities and financial technologycentres.

To ensure it is in tune withlocal regulations and market needs, more than half of UnPAY's internationalteam are local hires. Its overarching structure is underscored by a uniquepayment service model and elite technical team. This "glocal" formula hasserved UnPAY well, which led it to win the esteemed Fortune China InnovationAward in November 2018.

Looking ahead to the future,Zhenghua, who has over a decade of experience in the payment industry,envisioned that UnPAY will shift its focus onto the value of institutions andcustomers, now that it has achieved its goal of UN+Pay (united pay) payment orcross-border payment. Additionally, UnPAY wants to harness technology todeliver a more convenient, efficient and secure payment service, enabling a superiorpayment experience for the global industry ecosystem. In this way, users in everycountry can experience the global consumption and trade convenience brought onby technology upgrades, and finally realisethe vision of Payment without Borders, which will eventually not rely on thephysical act of paying.