What has changed
SoftPOS by IBA Group has undergone recertification with China UnionPay in accordance with the strict requirements of this payment system. The recertification confirms that tapXphone:
- supports the latest UnionPay specifications for contactless payments on mobile devices;
- meets the requirements applicable to payment acceptance solutions in retail and service environments;
- is ready to accept UnionPay cards on mobile devices.
UnionPay is one of the largest payment systems in the world: more than 10 billion cards have been issued globally, card issuance is available in 61 countries, and cards are accepted in 180+ countries. For banks and acquirers, this creates the opportunity to deploy tapXphone in markets where UnionPay cards are particularly common, such as in Asian and CIS countries.
This is also important for end merchants in tourist regions frequently visited by Chinese travellers — one of the largest groups of tourists in the world, who actively use UnionPay cards abroad.
UnionPay is one of the largest international payment systems, so successful recertification is important for scaling our product. This procedure at UnionPay includes strict requirements for transaction security and data protection. The fact that our solution has successfully passed it demonstrates the maturity of the platform and its readiness to operate in demanding markets worldwide, where it is necessary to support both international and domestic payment systems,” said Vadzim Smatrayeu, VP of FinTech Services at IBA Group.
Payment system support
TapXphone expands the list of supported payment systems by analysing market needs and demands. Support for a large number of international and local payment systems allows the product to be quickly adapted to local requirements and reduces integration and support costs.
Today, the product supports the following payment systems:
- Visa
- Mastercard
- China UnionPay
- American Express
- Diners Club
- Discover
- PURE
- JCB
This approach is convenient for international banks, fintech companies and acquirers that operate in multiple regions and can scale tapXphone without duplicating infrastructure.
