Latest news with #UnionPay
Yahoo
a day ago
- Business
- Yahoo
UnionPay and Tourism Malaysia Seal Strategic Partnership at ITB Shanghai to Power Visit Malaysia 2026 (VM2026)
SHANGHAI, May 30, 2025 /PRNewswire/ -- UnionPay International and Tourism Malaysia officially exchanged a Memorandum of Collaboration (MoC) today at ITB Shanghai 2025, marking the start of an exciting new journey to enhance travel and payment experiences between China and Malaysia moving towards Visit Malaysia 2026 (VM2026) Campaign. The ceremony was held at the Tourism Malaysia Pavilion between Ms. Zhuang Bei, Vice President of UnionPay International, and YBhg. Datuk Manoharan Periasamy, Director General of Tourism Malaysia, underscoring a shared commitment in strengthening tourism cooperation and enhancing the travel experience for Chinese visitors. Part of this collaboration is an extension of its broader, ongoing efforts to make overseas spending more seamless and familiar for Chinese visitors. In Malaysia, over 90% of merchants accept UnionPay cards, making it more convenient for travellers to pay for both large and small purchases. For bigger ticket items, UnionPay cards are widely accepted, meanwhile for smaller purchases, Chinese visitors can easily use the UnionPay app to make QR code payments. This blend of card acceptance for larger transactions and QR code interoperability for everyday purchases ensures UnionPay cardholders to feel at home while traveling in Malaysia. Both parties are agreed on joint marketing and branding efforts to promote a wider acceptance of digital payments among tourism-related merchants in Malaysia, as well as introducing exclusive travel benefits for UnionPay cardholders. This partnership also supports the objectives of Visit Malaysia 2026 (VM2026), a national campaign focused on revitalizing international tourism by improving the travel experience and making Malaysia more appealing alongside accessible to Chinese travellers. "We are truly excited to be part of this meaningful collaboration, especially as Malaysia prepares to welcome the world for Visit Malaysia 2026 (VM2026). Malaysia continues to be one of the most preferred destinations among Chinese travellers—not only because of its rich cultural heritage and natural beauty, but also due to the deep historical and people-to-people ties between our countries. With this partnership, we're proud to contribute to making travelling more seamless and enjoyable for UnionPay cardholders, while supporting Malaysia's broader efforts to boost tourism and economic recovery," said Zhuang Bei, Vice President of UnionPay International. Tourism Malaysia emphasized the importance of strategic partnerships in achieving its 2026 tourism goals. The agency noted that providing trusted and widely accepted payment solutions is a key enabler for increasing tourist satisfaction and encouraging repeat visits. About UnionPay International UnionPay International (UPI) is a subsidiary of China UnionPay focused on the growth and support of UnionPay's global business. Working with over 2,600 partners worldwide, UPI enables card acceptance in 183 countries and regions with issuance in 84 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. About Tourism Malaysia Malaysia Tourism Promotion Board, also known as Tourism Malaysia, is an agency under the Ministry of Tourism, Arts & Culture Malaysia. It focuses on the specific task of promoting Malaysia as a preferred tourism destination. Since its inception, it has emerged as a major player in the international tourism scene. The next Visit Malaysia, set to take place in 2026, will commemorate the sustainability of the nation's tourism industry, which is also in line with the United Nations Sustainable Development Goals (UNSDG).For more information, visit Tourism Malaysia's social media accounts on Facebook, Instagram, X, YouTube, and TikTok. View original content: SOURCE UnionPay International
The Star
2 days ago
- Business
- The Star
UPI-CIMB tie-up to improve payment services in M'sia
From left: CIMB Malaysia and CIMB Bank Bhd chief executive officer Gurdip Singh Sidhu, CIMB head of consumer banking Malaysia Daniel Cheong, UnionPay International (SEA) managing director Jian Jiangtao China UnionPay chairman Dong Junfeng and UnionPay International chief executive officer Larry Wang. PETALING JAYA: UnionPay International (UPI) and CIMB Bank Bhd have entered into a memorandum of understanding (MoU) to improve payment services in Malaysia. This strategic collaboration will enhance the payment experience for UnionPay cardholders, particularly in high-frequency sectors such as retail, transportation, medical care, and eCommerce. As part of this partnership, UPI will also equip CIMB's merchants with access to its proprietary security authentication service, thereby optimising Malaysia's eCommerce and digital payment acceptance environment. Dong Junfeng, chairman of UPI, said UnionPay has been operating in Malaysia for over 20 years. 'This collaboration with CIMB represents an important step in advancing UnionPay's payment network in Malaysia through inclusive, secure, and interconnected financial infrastructure. 'Malaysia continues to be a vital hub for regional payment innovation, and we are proud to deepen our cooperation to support seamless, cross-border commerce and digital transformation. 'Together, we aim to deliver greater convenience and trust to consumers and businesses across the region.' CIMB Malaysia and CIMB Bank chief executive officer Gurdip Singh Sidhu said the collaboration underscored the bank's commitment to enhancing payment solutions that enables its network of customers greater convenience and growth opportunities. 'The partnership with UPI allows for greater Asean – China as well as global solutions coverage, providing customers with enhanced access and security, especially during cross-border travel and trade.' To better serve the bilateral personnel exchanges, UnionPay continues to expand its payment acceptance environment in Malaysia, with over 90% of local merchants accepting UnionPay cards. The partnership will further expand and deepen the access of UnionPay solutions among CIMB merchants including selected gas stations, transportation ticket counters, major hospitals highway toll stations, vending machines, shopping mall parking systems, and other key payment merchants, effectively improving UnionPay's acceptance and customer experience.
BusinessToday
3 days ago
- Business
- BusinessToday
UnionPay Solutions to Reach More CIMB Merchants in Strategic Partnership
UnionPay International (UPI) and CIMB Bank Berhad (CIMB) have formalised a partnership to advance Malaysia's digital payments landscape. Under a newly signed MoU, UnionPay solutions will become more widely available to CIMB merchants, particularly in frequently used sectors, including retail, transportation, and healthcare. As part of the collaboration, UPI will provide CIMB's merchants with access to its proprietary security authentication service. This initiative is expected to optimise Malaysia's e-commerce and digital payment acceptance environment, making transactions safer and more efficient for consumers and businesses alike. Representing UnionPay International were Dong Junfeng, Chairman of China UnionPay and UnionPay International; Larry Wang, Chief Executive Officer of UnionPay International; and Dr Jian Jiangtao, Managing Director of UnionPay International (SEA). CIMB was represented by Gurdip Singh Sidhu, Chief Executive Officer of CIMB Malaysia and CIMB Bank Berhad, alongside Daniel Cheong, Head of Consumer Banking Malaysia, CIMB. Dong Junfeng highlighted the significance of the partnership, stating, 'UnionPay has been operating in Malaysia for over 20 years. This collaboration with CIMB marks an important step in advancing UnionPay's payment network in Malaysia through inclusive, secure, and interconnected financial infrastructure. Malaysia remains a vital hub for regional payment innovation, and we are proud to deepen our cooperation to support seamless cross-border commerce and digital transformation. Together, we aim to deliver greater convenience and trust to consumers and businesses across the region.' Gurdip Singh Sidhu added, 'This partnership highlights CIMB's focus on advancing payment solutions that bring greater convenience and growth potential for our customers. It also strengthens our ASEAN–China and global connectivity, which is especially valuable for cross-border travel and trade.' This development follows the recent agreement between China and Malaysia to deepen bilateral relations. In April 2025, the two nations committed to building a strategic China–Malaysia community with a shared future, including initiatives to ease visa requirements and promote productivity cooperation. In line with this, UnionPay is continuing to expand its payment acceptance network across Malaysia, where over 90% of local merchants now accept UnionPay cards. This collaboration will further extend UnionPay's reach among CIMB merchants, including selected gas stations, transportation ticket counters, major hospitals, highway toll stations, vending machines, shopping mall parking systems, and other key payment points. The move will enhance UnionPay's acceptance and improve the overall customer experience. Related
Khaleej Times
23-05-2025
- Business
- Khaleej Times
Al Ansari Exchange and UnionPay International launch real-time remittance service to China via MoneyExpress
Al Ansari Exchange, a subsidiary of Al Ansari Financial Services and the largest remittance and foreign exchange company in the UAE, and UnionPay International announced today the launch of MoneyExpress remittance service in the UAE. This partnership marks a significant milestone, as Al Ansari Exchange becomes the first exchange company in the entire GCC region to integrate directly with UnionPay's infrastructure, streamlining remittances through a fully digital, real-time interface ensuring speed, transparency, and user convenience. This agreement was signed during Seamless Middle East 2025, in the presence of Ali Al Najjar, COO at Al Ansari Exchange and Luping Zhang, general manager of Middle East of UnionPay International. "Digital innovation is at the heart of our strategy, and the launch of MoneyExpress marks a significant step forward in cross-border payment solutions," said Al Najjar. "By directly integrating with UnionPay's network, we are removing traditional barriers to remittance, delivering a faster, more cost-effective, and customer-centric solution that strengthens our position as a digital leader in financial services." "We are pleased to partner with Al Ansari Exchange to introduce MoneyExpress in the UAE," said Zhang. "This service offers customers a secure, real-time, and cost-effective way to send money to China. With upfront exchange rate settlement and direct crediting in RMB, it simplifies the process and eliminates hidden fees, enhancing convenience for senders and recipients alike." Unlike traditional remittance channels, MoneyExpress guarantees the exchange rate upfront and credits the recipient's UnionPay card in Chinese renminbi (RMB) instantly, without intermediary or bank handling fees. This provides customers with greater cost transparency and immediate access to their funds. With a network of over 270 branches and digital channels across the UAE, Al Ansari Exchange combines deep market expertise with advanced compliance standards to offer seamless financial services. This milestone and strategic partnership between Al Ansari Exchange and UnionPay International paves the way for future collaborations that will expand secure and efficient payment solutions across new corridors.
Zawya
20-05-2025
- Business
- Zawya
Al Ansari Exchange and UnionPay International launch real-time remittance service to China via MoneyExpress
Dubai, UAE – Al Ansari Exchange, a subsidiary of Al Ansari Financial Services and the largest remittance and foreign exchange company in the UAE, and UnionPay International announced today the launch of MoneyExpress remittance service in the UAE. This partnership marks a significant milestone, as Al Ansari Exchange becomes the first exchange company in the entire GCC region to integrate directly with UnionPay's infrastructure, streamlining remittances through a fully digital, real-time interface ensuring speed, transparency, and user convenience. This agreement was signed during Seamless Middle East 2025, in the presence of Mr. Ali Al Najjar, Chief Operating Officer at Al Ansari Exchange and Mr. Luping Zhang, General Manager of Middle East of UnionPay International. 'Digital innovation is at the heart of our strategy, and the launch of MoneyExpress marks a significant step forward in cross-border payment solutions,' said Ali Al Najjar, COO of Al Ansari Exchange. 'By directly integrating with UnionPay's network, we are removing traditional barriers to remittance, delivering a faster, more cost-effective, and customer-centric solution that strengthens our position as a digital leader in financial services.' 'We are pleased to partner with Al Ansari Exchange to introduce MoneyExpress in the UAE,' said Luping Zhang, General Manager of Middle East of UnionPay International. 'This service offers customers a secure, real-time, and cost-effective way to send money to China. With upfront exchange rate settlement and direct crediting in RMB, it simplifies the process and eliminates hidden fees, enhancing convenience for senders and recipients alike.' Unlike traditional remittance channels, MoneyExpress guarantees the exchange rate upfront and credits the recipient's UnionPay card in Chinese renminbi (RMB) instantly, without intermediary or bank handling fees. This provides customers with greater cost transparency and immediate access to their funds. With a network of over 270 branches and digital channels across the UAE, Al Ansari Exchange combines deep market expertise with advanced compliance standards to offer seamless financial services. This milestone and strategic partnership between Al Ansari Exchange and UnionPay International paves the way for future collaborations that will expand secure and efficient payment solutions across new corridors. For further information, please contact: Orient Planet Group (OPG) Email: media@ Website:
