China UnionPay plans to expand acceptance of its Quick Pass contactless payment technology to more retail locations, buoyed by its popularity among young and trendy customers in Mainland China.
Quick Pass is UnionPay’s domestic contactless scheme and is similar to MasterCard Worldwide’s PayPass and Visa Inc.’s payWave products.
UnionPay plans to increase acceptance of Quick Pass payments to more than 620,000 terminals this year from 100,000 terminals currently, a spokesperson for the card organization tells PaymentsSource.
“The card is used for daily micropayments at supermarkets, convenience stores, department stores, pharmacies, fast-food chains and other retail outlets,” he says. “Also, parking lots, gas stations and some tourist attractions.”
Younger consumers are among the early adopters of Quick Pass because of its speed and convenience in high-traffic retail locations, Weidong Wang, an analyst with Beijing-based iResearch Consulting Group, tells PaymentsSource.
Merchants that accept Quick Pass primarily are in Shanghai, Guangdong, Ningbo, Shenzhen, Beijing, Hunan, Jiangsu and Guizhou, and transaction volume is rising fast, he adds.
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