The global push comes as Chinese consumers are increasingly using smartphones to settle in-store payments, with annual transaction value representing nearly half of the nation’s gross domestic product.
UnionPay said in a statement that overseas services will launch in Russia and other markets along the “Belt and Road Initiative”.
UnionPay has been striving to expand its footprint worldwide after Beijing allowed foreign companies such as Mastercard and Visa into its domestic transaction clearing market.
By teaming with Huawei, UnionPay is vying for a bigger global payment share, upping its ante with launches of new technologies and promotional campaigns around 168 countries and regions.
Huawei Pay uses biometrics and near-field communication technology to enable in-store payments through Huawei phones.
More than that, UnionPay and Huawei formed a partnership to work together on the e-wallet service in 2016.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now