As the global payment ecosystem evolves rapidly, China UnionPay is collaborating with various industry stakeholders to build a new "four-party model" that integrates "general account providers" and "general acceptors," clarifying the roles and responsibilities of each participant to enable them to participate more smoothly in domestic and international payment services and promote cross-border connectivity. Against this backdrop, China UnionPay Co., Ltd. (hereinafter referred to as "China UnionPay") and Shanghai Shouqianba Internet Technology Co., Ltd. (hereinafter referred to as "Shouqianba") recently signed a comprehensive business cooperation agreement, upgrading their cooperation in multiple areas.
According to the agreement, both parties will further establish a long-term, stable, and rapid cooperation and exchange mechanism, strengthen resource complementarity, and jointly bridge the "last mile" between payment services and merchant operations. In empowering the real economy, Shouqianba will promote the full acceptance of UnionPay card code PAY products by its millions of merchants, and both parties will jointly launch exclusive promotional activities to help merchants attract customers and expand their businesses. In promoting cross-border connectivity, both parties will jointly expand overseas acceptance networks and promote domestic merchants to support over 200 overseas UnionPay standard wallets for payment, continuously optimizing the consumption experience for overseas visitors to China. In promoting the development of digital finance, China UnionPay will further leverage the service advantages of the UnionPay Cloud digital acquiring platform, and combine it with Shouqianba's mature industry solutions to jointly provide services to small and medium-sized banks, enhancing their ability to serve merchants.
This collaboration represents a significant step forward for all parties in the payment industry, within the framework of the new "four-party model," by integrating their respective strengths and upgrading domestic and international payment services. Both parties will work together to improve merchant checkout efficiency and consumer payment experience, helping more brick-and-mortar businesses overcome operational bottlenecks and boosting overall consumption.
Shouqianba is committed to enhancing the digital capabilities and operational standards of offline merchants through its products and services, with a service network covering over 10 million physical merchants both domestically and internationally. China UnionPay, upholding its original mission of "payment for the people" and its corporate vision of "mutual trust and interconnection to create value," continues to collaborate with various industry stakeholders to build an inclusive and diverse payment acceptance environment, effectively supporting the development of the real economy.
