HNB PLC, has announced the launch of UnionPay International (UPI) acceptance for e-commerce transactions.
This strategic collaboration is particularly timely, given the rapidly increasing growth within the tourism sector and the expansive card base of UnionPay.
The resultant partnership not only marks a significant milestone but also presents a substantial opportunity for HNB merchants to tap into a new and diverse customer base, thereby augmenting the bank’s market presence.
Enhanced by the bank’s cutting-edge payment gateway services, this initiative ensures that merchants’ technical requirements are comprehensively met, facilitating the seamless processing of UPI transactions. This strategic move underscores HNB’s continuous commitment to innovation, customer-centricity and its positioning as a leader in the evolving landscape of financial services.
HNB Deputy General Manager – Retail Banking Group, Sanjay Wijemanne, stated; “HNB always strives to remain steadfast in its commitment to enhancing business organisations through innovative and diverse modes of payment acceptance. The launch of e-commerce UnionPay International transactions, complemented by the bank’s technologically sophisticated tools, signifies a strategic step towards realising the bank’s vision within this competitive market landscape.”
Head of UnionPay International South Asia Hu Binghan said, “The successful collaboration between HNB and UnionPay International (UPI) highlighted the effective provision of acquiring services across all HNB Point of Sale (POS) platforms. Acknowledging the evolving landscape of digital payments, we noticed that there has been a substantial increase in transaction volumes over the preceding years and accordingly, our primary goal became to address the growing demand for digital transactions, thereby actively contributing to enhancing HNB’s presence in the e-commerce market. The strategic focus lies in meeting consumer needs while bolstering the bank’s competitiveness in the dynamic financial environment.” UnionPay International is a subsidiary of China UnionPay focused on the growth and support of UnionPay’s global business. UnionPay is the world’s largest card network with more than seven billion cards issued. In partnership with more than 2,600 institutions worldwide, UnionPay International has enabled card acceptance in 183 countries and regions with issuance in 82 countries and regions.
UnionPay International provides high quality, cost effective and secure cross-border payment services to the world’s largest cardholder base and ensures convenient local services to a growing number of global UnionPay cardholders and merchants.
