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UnionPay forms collaborative partnership with Aleta Planet

UnionPay forms collaborative partnership with Aleta Planet to launch AP-1 - an e-wallet that offers QR code payment - in Southeast Asia

|Oct 26|magazine4 min read

UnionPay reports the formation of its collaborative partnership with Aleta Planet to launch its AP-1 e-wallet that offers users a QR code payment method. 

Currently 18 e-wallet products comply with UnionPay’s specifications, and are available from UnionPay cardholders to quickly and securely make payments in five Southeast Asian countries. 

In collaboration with several institutions in Singapore, Thailand, Malaysia, Vietnam, and Cambodia, UPI has developed or upgraded local e-wallets with its specifications. 

To date, UnionPay cards continue to be issued in all ASEAN countries, providing several new payment scenarios for mobile payment solutions, which has almost 500,000 local merchants enabled.

The company reports that its mobile payment services in Southeast Asia currently include: 

  • Interconnected service areas: where users in the region simply link their card once for use not only in their home country but other countries in Southeast Asia and China. 
  • A portfolio of products including: UnionPay QR code wallets, HCE wallets and UnionPay Mobile QuickPass, which support both physical cards and virtual cards for customer flexibility.
  • A strong ecosystem: UnionPay not only collaborates with financial institutions, but with mobile phone manufacturers and telecommunication companies too in order to serve local cardholders.

UnionPay's card acceptance coverage has reached 90% in Singapore, with over 50,000 local merchants supporting UnionPay’s mobile payment services.

Currently UnionPay cards are accepted in 197 countries and regions, 61 of which support mobile payments. In addition, UnionPay has almost 90 e-wallet products that comply with its specifications available in 14 countries and regions. 

For more information on business topics in Asia Pacific, Australia and New Zealand, please take a look at the latest edition of Business Chief APAC.

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