Since the launch of the partnership earlier this year, RiverPay has been expanding its payment portfolio by adding UnionPay QR code payments to all its merchants in the region, with hundreds of new merchants registering through RiverPay to accept UnionPay QR code payments in their offline stores. As a result, merchants are reporting an increase in foot traffic and sales revenue.
“The convenience of the mobile app, combined with UnionPay’s deep-rooted financial relationship with Chinese consumers, is helping make it a preferred payments option for visitors to North America. We have seen a significant uptick in demand by our merchant partners to enable payments through UnionPay mobile app platform, and we are pleased to so see many taking advantage of the easy-to-install and quick-to-settle benefits RiverPay can bring to their retail operations,” said Ryan Zheng, CEO and co-founder of RiverPay, in a press release.
Launched in December 2017, UnionPay’s mobile app now has more than 150 million users.
“As we launched our mobile app and promoted QR code payment solution[s] globally, UnionPay International has been committed to offering safe and smooth payment experience to hundreds of millions of UnionPay cardholders and app users, wherever they are in the world,” said a senior executive of UnionPay International.
They continued, “The strides we have made in the North American markets are definitely uplifting, with high customer acceptance rate and satisfaction. The credit also goes to our capable payment enabler partners like RiverPay, [which] has worked closely with us to expand UnionPay International’s presence and added tremendous value, by leveraging its abundant payment integration experience and ability in bringing 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 unlock the next chapter for the large base of U.S. and Canadian merchants in tapping into the lucrative Chinese consumer market.”
With this latest integration, merchants such as Toys R Us, Sporting Life, Swarovski, Colton’s Couture and JCY House can now accept payment by scanning QR codes generated on the UnionPay app.