Finance & Capital Market

UnionPay, ADIB partner for contactless payment

UnionPay International (UPI) has partnered with Abu Dhabi Islamic Bank (ADIB), a leading bank in the UAE, to enable UnionPay card and contactless payment transactions on the bank's 15,000 near field communications (NFC) terminals in the UAE.

All of the bank's point of sale (POS) terminals have been enabled to provide a contactless payment service. The bank's 15,000 NFC terminals are spread across many industries and service types including: hospitals, hotels, government, supermarkets and everything in between.

The payment services available include UnionPay contactless payment through UnionPay chip cards and Mobile QuickPass payment interfaces such as Apple Pay, Huawei Pay. Also, the limit for contactless payment has been increased to AED500 ($136) to encourage wider use during this time.

Developments like these, to increase the ease and accessibility of online and contactless payments, are some of the primary methods with which UnionPay International has been tackling virus infection at the checkout around the world.

On the other hand, UnionPay International continues extending more convenience and benefits to the local partners. To help ease the financial pressure of the merchants impacted by the pandemic situation, UnionPay has implemented policies to increase the chargeback window for local merchant that will give more flexibility.

UnionPay International (UPI) is a subsidiary of China UnionPay focused on the growth and support of UnionPay's global business. In partnership with more than 2300 institutions worldwide, UnionPay International has enabled card acceptance in 179 countries and regions with issuance in 61 countries and regions. – TradeArabia News Service