UnionPay has become the first international card organization to meet the JPQR standard
UnionPay QR code officially endorsed by the Japanese government. Source:?shutterstock.com
UnionPay International has announced that the UnionPay QR code payment has become one of the mobile payment services recommended by the Japanese government.
In 2018, Japan put forward a plan to create a cash-free society. To simplify mobile payments acceptance for merchants, the committee within the Japanese government settled upon a JPQR standard compatible with 11 QR codes. The program includes the QR code developed by UnionPay, enabling local merchants to accept multiple mobile payment options via a single JPQR code.
Besides, UnionPay cards are already accepted at over 70% of merchants across Japan, with 60,000 local merchants supporting its QR code-based payments.
Another reason for the inclusion was the ability to serve foreign visitors on a large scale. Indeed, the UnionPay app available in 13 countries and regions outside of China with cross-border QR code-based payment options.
This way, users traveling in Japan can securely carry out payments on the go by using their smartphone to scan the QR code.
SEE ALSO:
- E-krona, e-peso, e-hryvnia: central bank digital currencies overview
- How to scan a QR code with an iPhone
- Smart payment routing: essentials & how-to
Pay Space
Our editorial team delivers daily news and insights on the global payment industry, covering fintech innovations, worldwide payment methods, and modern payment options.
