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UnionPay, the Chinese payment giant, has announced a strategic partnership with Tdkpago, a leader in instant payment infrastructure solutions. Through this agreement, UnionPay’s global wallet will allow its more than 600 million users to make QR payments at over 1 million merchants in Argentina. The system will be operational starting the first week of December.
In recent years, Argentina has adopted several of China’s successful strategies for digitizing mobile payments. The country has made significant progress in enabling QR code interoperability for local wallets. With the arrival of UnionPay, the Argentine retail payment system takes a significant leap forward, incorporating international wallets for the first time.
Tdkpago’s infrastructure integration positions UnionPay as the first global wallet to enable seamless payments across Argentina using interoperable QR codes. This marks a significant achievement in advancing the use of digital payments and real-time account-to-account transactions, bringing Argentina closer to leading the digitalization of money.
"It is a great honor to partner with UnionPay and achieve a landmark in the Argentine payment ecosystem. We envisioned and developed the technology so that millions of UnionPay wallet users around the world can pay like locals when visiting or working in the country," said Federico Kucher, CEO of Tdkpago.
Kucher added, "The way societies move money is changing rapidly, and our project with UnionPay is among the top innovations in the global retail payment industry." He also hinted, "We will soon announce other important developments for the immediate payment business in Latin America."
UnionPay is the world’s leading payment method, with over 600 million active users of its global wallet. The Chinese giant is in a phase of strong international expansion, investing in high-tech projects. Mobile payments, QR codes, and instant settlement are among its top priorities.
China leads the world in digital payments, with nearly 90% of its retail economy transactions conducted via mobile and internet. Additionally, the People’s Bank of China has been developing high-impact initiatives to continue leading the future of instant payments, with the implementation of the digital yuan being one of the most advanced.
The partnership between Tdkpago and UnionPay sets a new milestone in the evolution of payments in Argentina, establishing the country as a leader in adopting digital payment technologies. With UnionPay’s global wallet now available, Argentina takes another step towards modernizing its payment ecosystem, driving financial inclusion and making life easier for both residents and international visitors.