Fintech PR
China UnionPay Optimizes Payment Services with the Launch of Project Excellence 2024
SHANGHAI, March 16, 2024 /PRNewswire/ — On March 15, the launch ceremony for Explore China Your Way with UnionPay: China UnionPay Payment Service Optimization – Project Excellence 2024 was held in Shanghai. Mr. Zhang Qingsong, Member of the CPC People’s Bank of China (PBOC) Committee and Deputy Governor of the PBOC, and Ms. Xie Dong, Vice Mayor of Shanghai, attended the ceremony and delivered remarks. The event was also attended by Mr. Wang Ping, Deputy Secretary-General of Shanghai Municipal People’s Government, Mr. Jin Penghui and Mr. Liu Xingya, Deputy Directors of the Shanghai Head Office of the PBOC, Mr. Wang Sheng, Deputy Director-General of the PBOC Payment and Settlement Department, as well as the leadership from China UnionPay, including Mr. Dong Junfeng, as well as Mr. Shao Fujun, Chairman, and Mr. Cai Jianbo, President. Other members of the audience included representatives from the Shanghai municipal authorities, major Chinese commercial banks, acquirers, merchants, overseas regulators, international partners and other global card schemes.
The State Council recently issued guidelines to further optimize payment services in China. The document aims to address the bottlenecks in payment services and improve a multi-layered and diversified payment service system in line with the payment preferences of different user groups. The release of the guidelines fully demonstrates the significance attached by the central government to the development of the payment industry and serves as a roadmap for the future growth of the industry. It is essential for building a payment service system where different payment options develop in parallel and complement each other, and for creating an inclusive and convenient payment environment to facilitate the high-quality development of the payment industry.
In order to fully implement the requirements provided by the guidelines, China UnionPay has taken the initiative to launch Project Excellence 2024 to fully participate in the campaign to improve payment convenience for the senior citizens and international visitors to China. With the goal of delivering full solutions for all use cases across China, Project Excellence 2024 will be jointly implemented and co-funded by industry participants. Specifically, China UnionPay will take the lead and direct CNY 3 billion to focus on acceptance terminal upgrades, signage placement and publicity, etc. in key cities and use cases. At the same time, led by government authorities in specific sectors, UnionPay will encourage other industry players to pool their resources. The efforts will cover 41 key cities nationwide and 26 high-frequency use cases in eight major categories including F&B, accommodation, transportation, sightseeing, shopping, entertainment, healthcare, and education. By providing comprehensive payment solutions that include cards, QR codes, OEM pay products, and cash withdrawal, the undertaking will drive parallel while complementary development of mobile, card and cash payments. Project Excellence 2024 will start in Shanghai with marketing campaigns throughout the year under the theme Explore China Your Way with UnionPay, aiming at providing more discounts and options as well as a better experience.
During the event, Mr. Zhang Qingsong, Deputy Governor of the PBOC, stated that the rapid development and accelerated penetration of mobile payment in China in recent years have been pivotal in reducing transaction costs and promoting financial inclusion; however, new challenges have also emerged, such as the digital divide for the elderly population and barriers for international visitors to China. To implement the decision and arrangements by the central government, the PBOC has swiftly set up a dedicated working group to put in place a series of measures in line with the State Council guidelines. He acknowledges China UnionPay’s quick action to pool resources with other parties, and encourages all entities to strengthen synergy and provide the resources necessary to achieve substantial results in making payments more convenient. Shanghai, as one of the main destinations for inbound travelers, has gained valuable experience in supporting the China International Import Expo (CIIE). He hopes that the city can continue to set a good example in effectively implementing more measures aiming at increasing payment convenience. The PBOC will work with relevant parties, further develop payment use cases, and coordinate efforts to address any shortcomings and weaknesses. It will make payment services more heart-warming and broadly-covering so as to contribute to China’s high-standard opening up, an optimized business environment in China, as well as greater happiness and sense of gain of the people.
Ms. Xie Dong, Vice Mayor of Shanghai, said that payment is the foundation of economy and finance, and plays a crucial role in facilitating people’s lives, optimizing the business environment, and building a thriving consumer market. The PBOC has guided all parties in the payment industry to establish a multi-layered and broadly-covering acceptance network, which enables China to become a global leader in payment services. Shanghai is the largest clearing center in the world for card-based transactions, where China UnionPay has attracted numerous businesses upstream and downstream of the industry chain to form a cluster. As the city receives a large number of international visitors each year and is also one of the first in China to enter an era of aging society, choosing Shanghai as the first stop for Project Excellence 2024 holds special significance. She believes that Project Excellence can enable senior citizens and international travelers among others to feel accepted and welcomed, and make payment services in Shanghai more accommodating. The Shanghai municipal government will fully support the Project, and it stands ready to work with all parties including the PBOC to implement the requirements listed in the State Council guidelines, aiming to develop the Shanghai Solution that bridges the digital divide and improves the multi-layered as well as diversified payment service system. Together, all parties can contribute to business environment optimization and the high-quality social and economic development.
Mr. Dong Junfeng from China UnionPay pointed out that payment service optimization is a national policy and a shared responsibility of all industry participants. China UnionPay has been implementing the strategic decisions by the central government and the work arrangements of the PBOC by fulfilling its pivotal role as a card scheme. He hopes that through Project Excellence 2024, China UnionPay can inspire other industry stakeholders to contribute their resources, promote the parallel and complementary development of card, mobile and cash payments, and respect and support customer’s rights to choose payment tools. Project Excellence 2024 is a major initiative that connects different links of the payment industry as well as a systematic one that calls for consensus and coordination across the payment industry in geographies both in and outside China. Under the leadership of the PBOC and local governments, China UnionPay will team up with banks, China UMS, and acquirers in and outside China’s mainland, and strive for extensive availability of full solutions in all use cases across China. Furthermore, UnionPay will enhance collaboration with banks and payment institutions, expedite payment code interoperability, strengthen partnership with Chinese clearing institutions, and further engage in consultations with other international card schemes to jointly establish a convenient, open and inclusive payment ecosystem. Ultimately, UnionPay products will be easy to use in every use case, offering a superior experience, more options, and higher value for the elderly and international visitors to China.
During the ceremony, China UnionPay released 29 business achievements, covering international card issuance, overseas e-wallets, and acceptance in China. Among which were agreements signed with partners from the Philippines, Australia, and Pakistan to issue three million UnionPay cards. Ten major wallets, including AEON in Hong Kong SAR, OCBC in Singapore, and the LPB e-wallet in Vietnam, now support UnionPay QR payments, which are estimated to cover 60 million potential customers. More than ten well-known online and physical merchants, including Meituan, Trip.com, Pinduoduo, JD.com, and Shouqianba, accept international UnionPay payment products. Hong Kong and Macao vehicles traveling to the mainland can enjoy seamless payments at multiple parking lots and tollgates in Guangdong Province.
At the event, UnionPay also signed collaboration agreements with Ctrip Financial Services and China Tourism Group to provide more user-friendly cross-border payment services for international visitors to China. These two collaborations demonstrate the in-depth partnership between payment and tourism sectors that collectively improves the service for inbound travelers to China. They are also the outcome of collaborative efforts by the relevant industries. Themed marketing campaigns targeting these travelers have also been launched alongside Project Excellence 2024, available at visa centers, airlines, online travel agencies, and over 100,000 merchants in several locations including Shanghai, Guangdong, Zhejiang, and Shenzhen. Nearly 20 issuers from countries such as South Korea, Thailand, and Kazakhstan will offer up to 12% cashback to their cardholders who use UnionPay cards in China. Additionally, UnionPay’s Travel Mate Asia, a card featuring popular destinations in China’s mainland, will be upgraded. The new series of card issuance programs will cover more destinations with more exciting benefits.
As a key financial infrastructure in China and one of the major card schemes in the world, China UnionPay has always adhered to the original aspiration of “Payment for the People” and has been strengthening collaboration with other industry stakeholders. With its comprehensive solutions that cover all sorts of payments regardless of the location, vehicle and mode, China UnionPay continues to make payments easier for groups such as senior citizens and international visitors to China. While improving services such as card acceptance and ATM cash withdrawal, China UnionPay has rolled out the senior-friendly version of the UnionPay App, allowing the elderly to enjoy the benefits brought by the era of digital payment. In addition, UnionPay has issued over 230 million cards outside China’s mainland, launched nearly 200 UnionPay-powered e-wallets, and extended the acceptance network to 183 countries and regions, transforming UnionPay into a global payment solution that services cardholders across the world in their everyday lives and work.
Going forward, China UnionPay will work with all industry participants to ramp up the implementation of Project Excellence, with pledges to achieve substantial progress in more key cities and key use cases.
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Fintech PR
ADFW Unveils Full Agenda for 2024 Edition, One of the Most Impactful Financial Gatherings of the Year
ABU DHABI, UAE, Nov. 27, 2024 /PRNewswire/ — Abu Dhabi Finance Week (ADFW) has unveiled a compelling agenda for this year’s event that will take place from 9th to 12th December 2024. ADFW 2024 – ADGM’s flagship event with ADQ as its headline partner – is one of the most anticipated financial gatherings this year, with a lineup of industry-shaping events, influential speakers, and strategic forums that will explore the theme of ‘Welcome to the Capital of Capital.’
This third edition is in keeping with ADFW’s tradition of convening some of the most renowned global financial leaders, investors, policymakers, and thought leaders to address and analyse topics such as economic, human, cultural, environmental and technological capital, that make Abu Dhabi the ‘Capital of Capital’. The agenda for 2024 includes over 60 main and side events, more than 350 thematic sessions and approximately 600+ speakers. The event expects a gathering of over 20,000 attendees from around the world, representing over USD 30 trillion in managed assets.
Commenting on ADFW’s exceptional agenda, His Excellency Ahmed Jasim Al Zaabi, Chairman of ADGM and ADDED said, “Abu Dhabi Finance Week has firmly established itself as a global platform that attracts the most influential professionals in the finance industry from across the world. This year’s agenda for ADFW is a testament to Abu Dhabi’s position as a leading international financial hub, where innovation and collaboration drive progress for the Falcon Economy. ADFW continues to create unparalleled opportunities for meaningful dialogue, shaping strategies that strengthen resilience and growth in today’s evolving economic landscape, welcoming them to the ‘Capital of Capital’.”
Key forums, including the Abu Dhabi Economic Forum, Asset Abu Dhabi, RESOLVE 2024, Fintech Abu Dhabi, and the Abu Dhabi Sustainable Finance Forum (ADSFF) will return this year. New events for 2024 include the UBS Investment Forum, the China UAE Investment Summit with HSBC, the Islamic Finance Summit, the Spear’s Private Wealth Summit, and the Abu Dhabi Capital Markets Showcase.
Day 1: Opening Ceremony and Abu Dhabi Economic Forum
The official opening ceremony is on 9th December in the presence of esteemed members of Abu Dhabi’s leadership, heads of leading global investment and financial firms and other VIPs from the financial industry.
Abu Dhabi Economic Forum, a high-level leadership gathering, will feature in-depth discussions on the current state of and prospects for the Falcon Economy. It will bring together senior members of the Abu Dhabi government and prominent figures from the private sector, representing key industries. Speakers include the CEOs of Blackrock, Morgan Stanley, HSBC, Citigroup, BNY, Lunate, First Abu Dhabi Bank (FAB) and Aldar. ADEF Private Leadership Forum, Abu Dhabi Capital Markets Forum, the UBS Investor Forum and the prestigious ADFW Gala Dinner are a few of the major sub-events scheduled for the day.
Day 2: Asset Abu Dhabi and RESOLVE
The second day starts with Asset Abu Dhabi in association with ADCB, Mubadala and PGIM Global Asset Management. Bringing together asset allocators, asset managers, investment bankers, venture capitalists, private equities, family offices and other institutional investors, collectively managing over USD 30 trillion in assets, the event will see industry titans such as Ray Dalio, Robert Smith – Founder, Chairman & CEO at Vista Equity Partners, Aron Landy – CEO at Brevan Howard, and Bill Huffman – CEO at Nuveen take to the stage.
RESOLVE will also be held on this day, in collaboration with the Judicial Department. Under the theme ‘Resilience’, the event is set to host impactful conversations among key stakeholders from the global dispute resolution community and leaders from government, industry, and academia.
Day 3: Fintech Abu Dhabi and Global Financial Regulators Summit
Fintech Abu Dhabi, the Middle East’s largest fintech festival, will spotlight innovations in AI, digital security, and blockchain technology. Breakout events like Blockchain Abu Dhabi, RISK 4.0 Forum, Islamic Finance Summit and the AI Abu Dhabi Forum will showcase the transformative potential of emerging technologies. Leading voices, including Jeremy Allaire – CEO and Founder of Circle, Richard Teng – CEO of Binance, and Caroline Pham – U.S. CFTC Commissioner, will discuss the evolving landscape of financial technology.
The Global Financial Regulator Summit also returns as a closed-door gathering of international senior regulatory bodies and representatives from the MENA region, the European Union, the UK, Asia and the USA to discuss the approach to the opportunities and challenges presented by the rise of AI.
Day 4: ADSFF
Exactly one year after hosting its last edition at COP28, the Abu Dhabi Sustainable Finance Forum (ADSFF) will be held on the concluding day of ADFW to conduct discussions on sustainable finance, impact investing, and net-zero commitments. It will bring together impactful voices like H.E. Carme Artigas Brugal, Co-Chair of the AI Advisory Body at the United Nations, Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, Jonathan Dean of AXA IM and H.E. Majid Al Suwaidi, CEO of Alterra underscoring Abu Dhabi’s commitment to sustainability and green finance.
Curated side events include ‘Women in Finance’ and the ADFW Venture Park.
For more information on the agenda please visit What’s Happening in ADFW | Agenda – Abu Dhabi Finance Week
Register for Abu Dhabi Finance Week 2024 at Get your ticket – Abu Dhabi Finance Week
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NEW DELHI, Nov. 27, 2024 /PRNewswire/ — Comviva, a global leader in digital transformation solutions, specializing in customer experience management, data monetization, and mobile financial services, today announced the appointment of Raja Mansukhani as its Chief Strategy, Technology, and Transformation Officer. In this key role, Raja will drive the execution of strategic initiatives that are central to Comviva’s transformation and the realization of its ambitious Comviva 2.0 vision.
Raja brings over two decades of leadership experience across IT, telecommunications, fintech, and digital platforms. He has led organizations through large-scale business and operational transformations, market expansions, and the launch of innovative products and technologies in diverse global markets. Prior to joining Comviva, Raja was the CEO of a Digital Platforms company within the Axiata Group.
Welcoming Raja to the Comviva leadership team, Rajesh Chandiramani, Chief Executive Officer at Comviva, said, “We are thrilled to have Raja on board during this transformative phase for Comviva. His deep industry knowledge and proven ability to drive growth and innovation align perfectly with our vision for Comviva 2.0. Raja’s leadership will be instrumental in shaping our strategic direction and technology roadmap, as we continue to deliver cutting-edge digital solutions for our customers worldwide.”
Raja Mansukhani shared his enthusiasm about joining the Comviva team, stating, “I am honored to be part of Comviva, a company renowned for its pioneering solutions and steadfast commitment to a customer-centric approach. As the industry undergoes rapid transformation, this is an exciting opportunity to lead strategic initiatives alongside a talented team that will unlock new opportunities and accelerate Comviva’s growth while delivering differentiation and significant value creation for our customers. As a team, we will drive innovation, foster value-driven transformation, and work towards achieving the bold objectives of Comviva 2.0.”
With Raja’s appointment, Comviva reaffirms its commitment to delivering innovative, customer-first solutions while accelerating its transformation efforts to stay ahead in the rapidly evolving digital economy.
As part of its strategic growth, Comviva is enhancing its capabilities in digital commerce, data monetization, and customer experience solutions. By focusing on partnerships with technology leaders and hyperscalers, and advancing operational excellence across MarTech, FinTech, DigiTech, and RevTech, Comviva is positioning itself as a catalyst for innovation. These initiatives align with the company’s vision to lead the digital transformation journey, empowering businesses to unlock new revenue streams and deliver exceptional customer value.
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Fintech PR
LONGi and IUCN jointly release the Initiative of Advancing Climate Action and Biodiversity Conservation with Photovoltaic
XI’AN, China, Nov. 27, 2024 /PRNewswire/ — From November 11th to 22nd, the 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change took place in Baku, the capital of Azerbaijan. LONGi, in conjunction with the International Union for Conservation of Nature (IUCN), released the “Initiative of Advancing Climate Action and Biodiversity Conservation with Photovoltaic”. LONGi’s Vice President and Chief Sustainability Officer Zhang Haimeng, IUCN Deputy Director General Stewart Maginnis, and Ant Group Director of Sustainable Development Wang Xiaoying attended and witnessed the event.
The United Nations Environment Programme (UNEP) released a report highlighting that climate change, biodiversity loss, and environmental pollution are the three major global environmental challenges. As a leading global solar energy company, LONGi recognizes that innovation and development of renewable energy technologies such as solar power are not only crucial for reducing greenhouse gas emissions but also vital for the protection of ecosystems and biodiversity. After releasing Climate Action White Papers at COP conference for three consecutive years starting in 2021, LONGi, in collaboration with IUCN at COP29 this year, has taken corporate climate action to a new level by integrating it with biodiversity conservation efforts.
The initiative includes calls for companies to develop and implement climate and biodiversity protection measures in accordance with international multilateral environmental agreements (MEAs) and global standards, including the Convention on Biological Diversity, the United Nations Convention to Combat Desertification, the United Nations Framework Convention on Climate Change, and the Kunming-Montreal Global Biodiversity Framework. It also encourages following global best practices to ensure that all activities meet global climate and biodiversity protection requirements, adopting environmentally friendly methods in the design, construction, and operation of renewable energy projects, improving energy efficiency, and increasing the proportion of clean energy use. The initiative advocates for companies to establish a corporate culture for biodiversity conservation and to promote international cooperation, sharing, and dissemination of global best practices through partnerships.
IUCN Deputy Director General Stewart Maginnis stated in his speech that LONGi, as a leading company in the photovoltaic industry, is actively responding to the IUCN’s guidelines on the biodiversity impact of solar energy projects by releasing this initiative. We believe that the initiative can inspire broader industry and societal actions and will encourage more companies and organizations to participate in the development and application of renewable energy while also taking measures to mitigate their impact on the natural environment.
As biodiversity becomes an increasingly global concern, LONGi has been continuously focusing on how to use photovoltaic technology to promote biodiversity conservation since the 15th Conference of the Parties (COP15) to the United Nations Convention on Biological Diversity, which began in Kunming, Yunnan in 2021, and has actively put this into practice. During the COP28 conference, LONGi announced its “Zero-Carbon Life Plan for Pandas”, donating a distributed photovoltaic power station to the Qinling Giant Panda Conservation and Breeding Research Base in Foping, adopting a Qinling giant panda for life, and providing photovoltaic products and off-grid technology to support wildlife monitoring equipment in the protected area. Earlier, in 2022, LONGi donated photovoltaic modules to the Acquila Wildlife Conservation Base in South Africa, which not only provided daily electricity for the reserve but also clean water sources for wildlife, giving Acquila more possibilities for sustainable ecological operations.
In Duyun City, Guizhou Province, China, a 500kW “Solar +Tea Complementary Project” was established using LONGi photovoltaic products, exploring the application scenarios of photovoltaic technology in traditional tea gardens; the “Solar +Tea Complementary Project” model was also replicated in Pu’er City, Yunnan Province. In the world-famous Kubuqi Desert in Inner Mongolia, two photovoltaic power stations of 336kW and 338kW were built, with LONGi’s products helping arid areas achieve green ecological development with “generating electricity on the panels, planting under the panels, and breeding between the panels.”
Zhang Haimeng pointed out that as a leading global nature conservation organization, IUCN possesses extensive professional knowledge, a broad international network, and successful experiences on a global scale. This collaboration between LONGi and IUCN to release the biodiversity conservation initiative further refines and accelerates LONGi’s biodiversity practices. Through joint actions with IUCN, LONGi expects to more effectively promote global partners, policymakers, and the public’s understanding of the importance of biodiversity conservation, and to learn from excellent biodiversity protection projects such as Ant Group’s “Ant Forest,” actively taking effective measures to address global ecological challenges together. At the same time, as a leading global provider of green energy solutions, the photovoltaic technology and solutions that LONGi possesses can provide effective support for IUCN’s conservation actions.
“All things grow, and life is continuous. We call on humanity to join hands in protecting the Earth’s biodiversity and achieving harmonious coexistence between humans and nature. This is not just an initiative, but a call to action, looking forward to everyone contributing to the protection of biodiversity and the maintenance of ecological balance,” said Zhang Haimeng.
About LONGi
Founded in 2000, LONGi is committed to being the world’s leading solar technology company, focusing on customer-driven value creation for full scenario energy transformation.
Under its mission of ‘making the best of solar energy to build a green world’, LONGi has dedicated itself to technology innovation and established five business sectors, covering mono silicon wafers cells and modules, commercial & industrial distributed solar solutions, green energy solutions and hydrogen equipment. The company has honed its capabilities to provide green energy and has more recently, also embraced green hydrogen products and solutions to support global zero carbon development. www.longi.com
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