back Back

Unionpay and Triplink unveils ‘Virtual Commercial Card’ in Singapore

By Gloria Mathias

October 10, 2023

  • APAC Payments
  • APAC Solutions
  • B2B Card
Share

UnionPay, UPI, China, payments, FinTech, card, Vietnam, Triplink, B2B CardGlobal payment network UnionPay has partnered with FinTech company TripLink to introduce the UnionPay Virtual Commercial Card in Singapore. This initiative marks UnionPay International’s (UPI) first B2B virtual card designed to address the cross-border payment needs of businesses.

The UnionPay Virtual Commercial Card provides a convenient payment solution for businesses, particularly in the airlines and hotel industries, a seamless, cost-effective, and secure method for conducting real-time cross-border transactions.

By leveraging this innovative offering, businesses can significantly reduce the time required for crediting or transferring funds and minimise any administrative fees.

UnionPay’s unique, secure, and encrypted risk control systems allow TripLink’s customers to pay their merchants and partners via UnionPay Virtual Commercial Card, making the transaction safe, secure, and efficient.

The introduction of the UnionPay Virtual Commercial Card aligns with the growing trend of online transactions in the tourism sector. This collaboration will not only meet the evolving needs of businesses but also expand the issuance coverage of UnionPay in Singapore, empowering more companies to engage in global e-commerce.

“We are delighted to partner with TripLink to offer the first UnionPay Virtual Commercial Card tailored to the needs of businesses. B2B payments present a significant opportunity within the payment industry. We are pleased to be able to offer this customised solution for TripLink and its customers, which will propel us forward in addressing some of the pain points encountered by businesses in B2B payment. Our aim is to provide a diverse and comprehensive range of payment solutions catered to the unique needs of our B2B clients,” said Carine Low, Singapore Country General Manager, UnionPay International.

Wang Zhe, Chief Executive Officer, TripLink International, added, “We are happy to extend TripLink to more users through this partnership, which exemplifies our ethos of constantly innovating and improving to serve them better. Our aim to help enterprises develop worldwide to accelerate business growth will be well served by connecting more businesses through the UnionPay network, thus facilitating an increase in global payments – especially inbound payments to Mainland China.”

Previous Article

October 10, 2023

Alba Bank partners with Mambu to enhance SME lending

Read More
Next Article

October 10, 2023

4 e-wallets promoting a cashless economy in UAE

Read More






IBSi Daily News Analysis

cloud,

July 19, 2024

APAC Payments

SMEs leverage cloud to gain competitive edge, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

July 19, 2024

Ecommpay & Mastercard partner to deliver Click to Pay in Europe

Read More

July 19, 2024

LTIMindtree extends multi-million-dollar contract with Absa Bank

Read More

July 19, 2024

Sopra Banking Software partners with Finom

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024