Merchants at Popular Street in Chiang Mai (Nimmanahaeminda Road) now accept UnionPay Cards by using GoSwiff mPOS.
Chiang Mai, Thailand, 29 November 2016 – GoSwiff, a global leader in digital payments, announced a partnership with UnionPay International (UPI), a global payment network, to enable merchants on Nimmanahaeminda Road in Chiang Mai to accept UnionPay cards. Using GoSwiff’s mobile point of sale (mPOS) solution, micro merchants can now accept and process secure PIN-based card transactions in Thailand.
Merchants and shoppers on Nimmanahaeminda Road, a street popular with both locals and tourists visiting Chiang Mai, will reap significant advantages with the launch of mPOS. Merchants will benefit from the convenience of digital payments, while consumers can pay with their UnionPay cards, minimizing foreign exchange costs from ATM withdrawals and reducing the risk of carrying cash. All the banks within the UPI network can now connect to mPOS, and leverage NFC, HCE and PIN payments for the first time in Thailand.
“We see great benefits in this partnership with GoSwiff in the Thai market,” said Wenhui Yang, General Manager, UnionPay International, Southeast Asia. “We are not only enabling small merchants to accept micro-payments securely, but also supporting our customers who prefer to pay with cards. With the help of our contactless mobile payment solution, we are confident this will lead to a wider adoption of cashless payments in Thailand and Southeast Asia alike.”
On Nimmanahaeminda Road, small and mobile merchant stalls are not able yet to provide PIN-based card acceptance through regular electronic data capture platforms. There are constraints on telephone and electricity lines and investment requirements on the bank’s side.
“Thailand has seen an enormous increase in mobile payment acceptance in recent years thanks to the very active approach from the banks to roll out mPOS services to their clients. The Bank of Thailand has encouraged all debit cards to include a PIN code, which will create even more interest from the merchants to use mPOS”, said Svyatoslav Garal, Head of Asia Pacific and CIS, GoSwiff. “We have implemented mobile payment solutions for banks and Mobile Network Operators across the globe and boosted electronic payments in the emerging markets. The payment ecosystem greatly benefits from our mPOS solution with UnionPay, as well as the expansion of payment acceptance locations, especially in countries where the card penetration is increasing.”
GoSwiff International is a global financial solutions provider. We offer integrated white label payment gateways and mobile applications for online, mobile and in-store payments – and are helping to meet the growing demand for digital payments in both emerging and developed markets. Our secure payment solutions are benefitting financial institutions, mobile network operators, merchants and consumers by increasing financial inclusion and providing a safer, faster and more cost-efficient means of payment. Incorporated in 2010, GoSwiff is headquartered in Singapore and currently has operations in over 20 countries around the world.
To learn more, visit www.goswiff.com and follow us on Twitter & LinkedIn @GoSwiff
About UnionPay International
UnionPay International (UPI) focuses on supporting the growth of UnionPay’s global payments business. UnionPay’s acceptance footprint has expanded to over 160 countries and regions, covering more than 35 million merchants and over two million ATMs worldwide. With more than 5.4 billion UnionPay cards issued in over 40 countries and regions, UnionPay serves the world’s largest cardholder base by providing quality, cost effective and secure payment services, and ensuring convenient local services to a growing number of merchants. In Southeast Asia, UPI has enabled ATM, POS acceptance and card issuance across all 10 countries. In Thailand, UnionPay enables efficient and cost-effective payment services that are tailored to the needs of local businesses and consumers. UnionPay cards are issued by Bangkok Bank (BBL), Bank of China (BOC), Industrial and Commercial Bank of China (ICBC), Kasikorn Bank (K Bank), Kiatnakin Bank (KK Bank), Krungthai Bank (KTB) and Land and Houses Bank (LH Bank). UnionPay cards are accepted at close to 90 percent of retail, lifestyle and food and beverage establishments locally, as well as at almost all ATMs across the country.
For more information about UPI, visit www.unionpayintl.com, follow “UnionPay International” on Facebook, Sina Weibo or WeChat, or download its official mobile application by searching for “UnionPay International” on Apple’s App Store or Google’s Play Store.
For inquiries on connect with UnionPay networks in Thailand, please contact Arthur Liu at +66-92-472-9534 or by email firstname.lastname@example.org