News and Articles

22/01/2024
Bridging the Gap Between Chinese Consumers and European Merchants：YabandPay Announces Collaboration with UnionPay

“YabandPay officially joins UnionPay as an acquirer, enabling European merchants to access comprehensive UnionPay payment products, including QR code payments and UnionPay QuickPass.”

As a licensed payment institution based in the Netherlands, YabandPay is committed to providing convenient one-stop payment solutions for European merchants. This ensures that consumers can always choose trusted and familiar payment methods, fostering business growth. Currently, YabandPay has entered into a deep collaboration with UnionPay, providing European merchants, especially those seeking to tap into the Chinese consumer market, with the opportunity to reach billions of UnionPay users.

What is UnionPay?

As the world’s largest card organization, UnionPay has established a robust global payment ecosystem and is the preferred payment method for Chinese tourists. Recent data indicates that UnionPay processes billions of transactions annually, with an increasing share dedicated to overseas consumption and cross-border trade. The robust purchasing power of Chinese tourists and the 19% annual growth in cross-border e-commerce transactions present a significant business opportunity for European merchants.

Deep Collaboration between YabandPay and UnionPay

YabandPay’s membership with UnionPay enhances its ability to provide aggregated payments for European merchants. Whether in e-commerce, brick-and-mortar stores, or other industries, European merchants can now seamlessly access the UnionPay payment network through YabandPay. Currently, YabandPay offers merchants a comprehensive range of UnionPay products, including:

1. UnionPay QR Code Payments: Merchants using YabandPay can easily employ UnionPay’s QR code payment products. Users of UnionPay only need to open the UnionPay QuickPass app, scan the QR code that the merchant generates, and quickly complete payments in physical stores.

2. UnionPay Online Payments: YabandPay provides European merchants with a convenient UnionPay online payment solution, allowing them to adapt to various online transaction scenarios. Users can swiftly complete online shopping and service payments through UnionPay.

3. UnionPay QuickPass: Merchants can utilize YabandPay-supported UnionPay QuickPass products, enabling users to make contactless payments at POS terminals. This advanced payment method provides consumers with a more convenient and rapid payment experience, particularly suitable for scenarios requiring quick checkouts.

4. UnionPay Card Payments: YabandPay offers merchants UnionPay card payment services, allowing UnionPay users to make card payments at POS terminals. This traditional yet standard payment method suits various types of physical merchants.

5. UnionPay B2B Cross-Border Comprehensive Payments: YabandPay provides a convenient, secure, and compliant UnionPay B2B comprehensive payment product for cross-border trade between China and Europe. This product facilitates payments between enterprises in China and Europe, improving transaction efficiency and significantly reducing costs.

With YabandPay’s comprehensive UnionPay products, merchants can expect a more convenient acquiring process, faster fund settlements, and enhanced safety, compliance, and risk control measures. Choosing YabandPay means merchants are selecting more than just a payment institution; they opt for a strategic partner dedicated to empowering business development.

Our Mission

In this era of information exchange, the connection between European and Chinese mobile payments has become crucial, and YabandPay is committed to this mission. Leveraging its rich industry experience and robust technological foundation, YabandPay strives to provide merchants with a more competitive and innovative aggregated payment solution, facilitating better business growth.