UnionPay QuickPass

Overview

UnionPay QuickPass is Chinese state-backed wallet + China UnionPay state-backed Chinese national card scheme + Cloud QuickPass mobile wallet app + QuickPass NFC contactless cards + one of China's three super-app wallets alongside Alipay + WeChat Pay + ~400M+ Chinese registered Cloud QuickPass users ^{1, China report}.

History

Mar 26 2002 — China UnionPay founded as Chinese state-backed national card scheme by PBoC People's Bank of China distinctive Chinese national card scheme heritage.

Dec 11 2017 — UnionPay QuickPass launched as Chinese state-backed wallet alongside QuickPass NFC contactless cards + Cloud QuickPass mobile wallet app distinctive Chinese state-backed wallet heritage + Chinese national three-wallet (Alipay + WeChat Pay + UnionPay QuickPass) competition.

Ownership & operator

Operating entity: UnionPay QuickPass (Chinese state-backed wallet; China UnionPay parent).

Major shareholders: China UnionPay (Chinese state-backed national card scheme; PBoC People's Bank of China + Big Four Chinese state-owned commercial banks ICBC + CCB + BOC + ABC + 80+ Chinese banking + financial institutional shareholders).

Regulators: PBoC + NFRA + national regulators across 90+ countries.

Technical integration

Cloud QuickPass mobile app (iOS + Android; ~400M+ Chinese registered Cloud QuickPass users) + 95516.com online + QuickPass NFC contactless cards via 8B+ China UnionPay cards issued globally; UnionPay QR + CNAPS + e-CNY (digital yuan integration) + China UnionPay world's largest card payment scheme by transactions + cards issued globally.

Implementations & partners

China UnionPay parent + Chinese state-backed banks: ICBC Mobile Banking (ICBC Industrial and Commercial Bank of China; world's largest bank by total assets) + China Construction Bank (CCB) Mobile Banking (CCB China Construction Bank) + Bank of China (BoC) Mobile Banking (BOC Bank of China; oldest of Big Four Chinese banks since 1912) + Agricultural Bank of China (ABC Mobile Banking) (ABC Agricultural Bank of China; ~880M+ customers) + Bank of Communications (BOCOM Mobile Banking) (Bank of Communications) + Postal Savings Bank of China (PSBC) (Postal Savings Bank of China) + China Merchants Bank (CMB Mobile Banking + CMB Life) (China Merchants Bank).

Chinese super-app wallet + device-anchored mobile wallet + payments competitors: Alipay (Alipay Chinese super-app wallet; Ant Group; ~1B+ users) + WeChat Pay (WeChat Pay Chinese super-app wallet; Tencent; ~1B+ users) + Huawei Pay (Huawei Pay Chinese device-anchored mobile wallet; Huawei Technologies; ~100M+ Chinese Huawei device users) + Mi Pay (Xiaomi) (Mi Pay Xiaomi Chinese device-anchored mobile wallet; ~80M+ Chinese Xiaomi device users) + OPPO Pay (OPPO Pay; OPPO Chinese smartphone mobile wallet; ~50M+ Chinese OPPO device users) + vivo Pay (vivo Pay; vivo Chinese smartphone mobile wallet; ~40M+ Chinese vivo device users) + Samsung Pay China (Samsung Pay China; Samsung Electronics Chinese smartphone mobile wallet) + Apple Pay (Apple Pay China; Apple iPhone mobile wallet).

Regulators: PBoC + NFRA + national regulators across 90+ countries.

Status

Active, Chinese state-backed wallet + China UnionPay state-backed Chinese national card scheme + Cloud QuickPass mobile wallet app + QuickPass NFC contactless cards + one of China's three super-app wallets alongside Alipay + WeChat Pay + ~400M+ Chinese registered Cloud QuickPass users + China UnionPay world's largest card payment scheme by transactions + cards issued globally ^{1, 2}.

Sources

• 1 UnionPay — official
• 2 UnionPay — Wikipedia
• ^{China report} In-corpus: reports/countries/CN-china.md

Source

Biography extracted from unionpay-quickpass.md. See matrix.md for standards-support matrix if present.