Alipay and 28 Banking Institutions Accept Each Other’s Offline Payment Code

alipay
(Source: Digiday)

Alipay announced on its official WeChat account on Thursday that the company and China UnionPay now recognized each other’s collection code across China. Joining the new payment freedom were 28 other banking institutions that will now all accept each other’s offline payment codes.

Alipay explained in the announcement that, since 2020, Alipay and China UnionPay have kept contact in business-based barcodes, and now recognize each other’s offline collection code in the cities of Beijing, Tianjin, Guangzhou, Shenzhen, Chengdu, Chongqing, Xi’an and others.

The 28 banks and banking institutions include Industrial and Commercial Bank of China, China Construction Bank, Bank of China, Bank of Communications, China Merchants Bank, China International Trust and Investment Company, Guangfa Bank and MiPay. When paying offline, users can now scan Alipay collection codes in the apps of these banks, China Unionpay, and other banking institutions.

This is the second time that Alipay has announced the progress of its interconnectivity with China UnionPay recently.

Earlier in early October, Alipay announced to gradually open online payment scenarios to UnionPay China. The first step to open the new transaction methods was Taobao and associated shops, all of which supported consumers to pay through UnionPay. During the Tmall Double 11 Shopping Festival this year, China UnionPay participated in it for the first time.

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Alipay added that it would work closely with China UnionPay and other partners in the future, further explore and open more avenues to improve user experience, effectively promote the interconnection in payment systems, and help build an open and shared digital ecology.