BC, Union Pay launch QR app for tourists to China
BC Card CEO Lee Mun-whan, left, and Union Pay International CEO Cai Jianbo show their joint QR application at BC Card's Seoul headquarters, Thursday. Courtesy of BC Card
By Park Hyong-ki
BC Card has added another company to its alliance for electronic barcode payments.
The local credit card firm of KT, the country's largest telecom company, said Thursday it launched a QR code app with Union Pay, enabling customers to pay for goods when traveling in China.
Customers will not have to download another app for shopping and dining in China, the credit card firm said. They can just reset their existing BC paybooc app by clicking on “BC Union Pay Card” under settings. They can use the app at restaurants, malls and other shops that have a partnership with BC Card and Union Pay.
It also removes the problem of visitors to China having to buy universal subscriber identity module cards for smartphones and signing up for a QR code account via a different module.
Customers who use the BC-Union Pay QR code will not have to pay fees on currency exchange when using it to settle their bills in Chinese yuan.
BC Card said it will further expand its QR alliance and platform.
“We will further expand the platform so that our customers can use it beyond China,” BC Card CEO Lee Mun-whan said.
BC Card also has ties with Shinhan Card and Lotte Card for electronic barcode payments.