【E-Wallet】BOC Pay+ Supports Mainland UnionPay Network App Payment Function - Payment Available on Over 150 Apps in Mainland

Bank of China Hong Kong (02388) announced that its mobile payment platform BoC Pay+ is now able to support payment functions through mainland China UnionPay network applications. BoC Pay+ users can make payments to over 150 core merchants in mainland China across various sectors related to daily life consumption, enjoying more convenient online shopping services.

In the first phase, the mainland application payment network covers mainstream apps such as Didi Chuxing, Luckin Coffee, Maoyan Movie & Performances, Qunar Travel, Walmart, Ctrip Travel, and SF Express, covering categories like transportation, dining, travel, entertainment, and logistics, seamlessly connecting to mainland China’s lifestyle circle.

Customers can select “UnionPay” or “Cloud QuickPass” on the app’s payment interface, then choose “BoC Pay+” to be directly redirected to the BoC Pay+ mobile payment platform for payment.

As of November last year, BoC Pay+ customers’ spending in mainland China increased by 14% year-on-year.

Ms. Zhao Leyi, Deputy General Manager of Bank of China (Hong Kong) Credit Card (International), stated that as of November last year, the number of BoC Pay+ customers’ transactions in mainland China grew by 14% year-on-year. The scope of spending areas has expanded from the Greater Bay Area to other provinces and cities, with transaction amounts in Chongqing, Fujian, Changsha, Xinjiang, and Gansu increasing by over 100% year-on-year.

Mr. Li Zhaofeng, Vice President of UnionPay International Hong Kong, Macau, and Taiwan, said that BoC Pay+ becoming the first overseas financial institution to support mainland China UnionPay network application payments marks an important milestone in technical integration between the two parties. Currently, BoC Pay+ via UnionPay’s interconnection network covers nearly all QR code payment points. This cooperation extends from offline payments to online applications, leveraging UnionPay’s extensive online acceptance and security standards. Local users of BoC Pay+ can enjoy the same convenient payment experience as mainland residents when shopping online or traveling in mainland China, further enhancing cross-border consumption convenience.

Bank of China Hong Kong indicated that BoC Pay+ is now integrated with UnionPay’s real-time exchange rate system. Whether for offline or online transactions in mainland China, payments can be settled at the “UnionPay Super Favorable Exchange Rate,” eliminating foreign exchange transaction fees. Customers can view UnionPay’s real-time exchange rates within BoC Pay+.