QFPay and United Brands (UBPAY) Form Joint Venture to Redefine the Mobile Payments In UAE
BEIJING & DUBAI, United Arab Emirates–(BUSINESS WIRE)–QFPay, the leading global mobile payment technology and big data solution company from China, today announced a joint venture with United Brands (UBPAY), a Dubai-based Payment Service Provider (PSP), to redefine the mobile payment landscape across the United Arab Emirates by offering secure mobile payment services and solutions to local merchants which target the growing number of Chinese and Asian tourists in the region.
UB QF PAY is the first joint venture of its kind in the UAE and will be offering mobile payment services to a number of retailers in Dubai in December 2017.
According to Dubai Department of Tourism and Commerce Marketing, China is one of Top 5 source markets for visitors to Dubai in 2017. In 2017, the city expected to attract over 740,000 guests from China, a 49% increase over the previous year.
“With a rising number of Chinese and Asian tourists visiting the city, Dubai is an important and strategic market for QFPay,” said Patrick Ngan, Co-Founder and President of QFPay. “We are pleased to establish this joint venture with UBPAY which has an extensive partner and merchant network in the UAE and across Middle East. We look forward to providing merchants in the region with secure and reliable mobile payment solutions.”
Ahmed Alrafi, Managing Director of UBPAY, said, “Forming this joint venture with QFPay is a key milestone for us to capitalize on the mobile payment opportunities in the region. We are confident that this partnership will benefit retailers and service providers by allowing them acceptance of multiple wallets from various markets in a single solution.”
Headquartered in Beijing, QFPay was established in 2011 and has been a PCI-DSS Level 1 payment service provider for five consecutive years. QFPay has business presence across Asia with regional offices in Bangkok, Dubai, Hong Kong, Kuala Lumpur and Tokyo.
Headquartered in Dubai, UBPAY (United Brands) is a Payment Service Provider (PSP) and a leading provider of payment technology to a large number of clients in the UAE and the wider region.
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