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FREMONT, Calif .– (BUSINESS WIRE– RiverPay Integrated Payment and Marketing Platform Inc. Announced Today
that its step-by-step acquisition initiative with China UnionPay is
generating widespread traction in the retail sector in North America.
Since launching their strategic partnership in January of this year,
RiverPay expanded its payment portfolio by adding
QR code of UnionPay at all local merchants.
The extensive technical capabilities of RiverPay and its network of
relationship covering the retail, food and beverage sectors,
Groceries, baby products, etc. have given rise to hundreds of
Merchants who register via RiverPay accept the UnionPay QR code
payments in their offline stores. Merchants generally report
a marked increase in pedestrian traffic and Chinese turnover
consumers who increasingly link their bank cards issued in China to
the UnionPay mobile application.
"The convenience of the mobile application, combined with deep rooting UnionPay
financial relationship with Chinese consumers, helps to make it a
Preferred payment option for visitors to North America. We saw a
significantly increased demand from our trading partners to enable payments
via the UnionPay mobile application platform and we are happy to see many
enjoy benefits easy to install and adjust quickly
RiverPay can bring in their retail operations, "said Ryan Zheng,
CEO and co-founder of RiverPay.
Launched in December 2017, the mobile application of UnionPay has exceeded 150 million
users in April 2019 – less than a year and a half after its integration into the mobile
Battlefield payments. For merchants, the UnionPay mobile application is a key to
unlock the purchasing power of more than 7.5 billion cards in China – but
some find that they need help to integrate this boom of potential
dollars. This is where payment facilitators like RiverPay play a key role.
As one of the few service providers to actively promote UnionPay
QR code payment solution in the United States and Canada at an early stage,
RiverPay has a large base of merchants who now accept payments
via the UnionPay mobile application.
"When launching our mobile application and promote the payment solution by QR code
UnionPay International is committed to providing safe and secure solutions
a smooth payment experience for hundreds of millions of UnionPay
cardholders and application users wherever they are in the world, "Senior said
Executive of UnionPay International Americas. "The progress we have made
in the North American markets are booming with a strong
rate of acceptance and satisfaction of customers. Credit is also going to our
capable payment partners like RiverPay, who worked closely
with us to expand the presence of UnionPay International and added huge
value by leveraging its rich experience in integrating payments and
ability to bring merchants on board. This partnership will not only
make one of the most convenient payment options available for Chinese
outbound tourists in their travel destinations, but also open the next
chapter for the large base of American and Canadian merchants to exploit in
the lucrative Chinese consumer market. "
With the latest integration of UnionPay QR code payment enabled by
RiverPay to their in-store checkout systems and online platforms,
such as Toys R Us, Sporting Life, Swarovski, Colton's Couture
and JCY House can accept consumer payments simply by digitizing them
QR codes generated on the UnionPay application. The QR code is also a channel for
integrate payment with marketing promotions, loyalty programs and more
value-added services. To capture the peak summer sales season, more than
50 retailers and the most popular Chinese restaurants in Toronto
Join UnionPay coupons promotion campaign starting from
July, for all consumers using the UnionPay application for payments.
UnionPay now has twice as much market share as Visa and three times
that of Mastercard in terms of cards issued, with a total issue of cards
more than 7.5 billion. UnionPay is now accepted in 174 countries and
regions and has a strong presence in North America and Europe,
with its transactions representing more than 11 billion USD in 2017.
About RiverPay (www.riverpayment.com)
RiverPay is an integrated payments and marketing platform to connect
Chinese consumers with merchants abroad. In payment authorized
service provider of Alipay and WeChat Pay, RiverPay offers technologies
settlement solutions and services that allow Chinese consumers to pay
CNY and traders to receive USD, CAD, GBP, EUR and more. RiverPay
currently serves more than 12,000 merchants in North America and Europe,
Saks Fifth Avenue, Hudson's Bay, Selfridges, Holt Renfrew,
Harry Rosen, Holland & Barrett, Prada, Dolce & Gabbana, Tiffany & Co., De
Beers and Max Mara.
About UnionPay International (www.unionpayintl.com/en)
UnionPay International (UPI) is a subsidiary of China UnionPay focused on
on the growth and support of UnionPay's global operations. In partnership
With more than 2,000 institutions around the world, UnionPay International has
Card acceptance in 174 countries and regions was issued in 51 countries.
countries and regions. UnionPay International provides a high quality,
secure and secure cross-border payment services to the world
the largest number of cardholders and provides convenient local services to
increasing number of UnionPay cardholders and merchants around the world.
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