In an effort to promote cashless payment among retail merchants in Singapore, payment technology provider UNPay is offering them Chinese QR code payment capabilities.
Plans are on to expand the initiative to local QR code payment providers by the second half of 2019.
The move is in response to increasing influx of Chinese tourists in Singapore. As part of the initiative’s first phase, UNPay has acquired merchants in the hospitality and food and beverage industries.
UNPay will facilitate QR code payment methods including Alipay and WeChat Pay at these merchants.
In the later phase, the firm plans to acquire foreign e-wallets to increase payment options for tourists.
UNPay CEO and founder Zhang Zhenghua said: “Through our active acquisition of merchants, we hope to drive the use of QR code payment in Singapore, keeping in line with the rollout of SGQR code in September.
“We are confident that with our expertise and technology, we will be able to bring greater benefits to our merchants via our integrated payment platform, while providing a more seamless and convenient way for consumers to pay.”
UNPay currently has reach in over 200 countries and covers travel, education, e-commerce and digital entertainment industries, among other sectors. At present, the business is connected to more than 500 online payment methods.