UnionPay has significantly expanded its card acceptance across 183 countries and regions in recent years. They have established various partnerships, including a notable collaboration with Pecunpay, an Electronic Money Institution regulated by the Bank of Spain, which offers services such as issuing, acquiring, and managing escrow accounts.
In an effort to streamline payment options for European travelers heading to Asia—particularly China—Pecunpay and UnionPay have developed the Yi An app. This app introduces the UnionPay debit card, which is widely used in Asia, to the European market.
The launch of the Yi An app marks a significant achievement for both companies. This innovative digital platform is designed to facilitate payments for anyone traveling to Asia, whether for business or leisure. Minsait Payments, partnering with Pecunpay, has created this app to allow users to apply for a UnionPay card in real time, ensuring a smooth and digital onboarding experience. The Yi An app aims to provide quick and secure access to UnionPay’s extensive payment network, alleviating common payment challenges during travel.
Key benefits of the Yi An app include:
– Utilization of HCE and QR contactless mobile payment technology for seamless transactions at various locations such as shops, restaurants, and airports.
– Easy card top-ups via transfers from other cards or accounts.
– Direct debit options for bills and deposits.
– Ability to withdraw and deposit cash using a mobile device.
– Access to travel insurance and legal assistance at no extra cost.
Shengliang Yang, Deputy CEO of UnionPay International’s European division, emphasizes the importance of this partnership, stating that their collaboration with Minsait Payments and Pecunpay is aimed at enhancing the payment experience for European travelers in Asia. By merging UnionPay’s reliable network with the innovative technology of the Yi An app, they are providing users with straightforward access to secure payment solutions in the region, showcasing a commitment to facilitating cross-border transactions.
Enrique Álvarez Fernández, CEO of Pecunpay, highlights that Minsait Payments’ technology enables the rapid launch of programs like Yi An, where customers can access a preferred payment option for use in China and other Asian regions through a completely digital experience. These innovative products illustrate how digital payment systems can simplify everyday life for users.
