An brief introduction to UMP
Established in February, 2011, Union Mobile Finacial E-commerce is a wholly-owned subsidiary of the Union Mobile Finacial Technology Co., Ltd. (UMF). It has already been licensed the nationwide internet payment from the People’s Bank of China. UMP has been licensed for nationwide internet payment, mobile phone payment and bank card acceptance from the People's Bank of China, as well as the business permit for payment and settlement of fund sales of CSRC in March, 2015. UMP has provided funds management services based on integrated payment and internet finance services based on big data.
In November, 2015, with the pilot permit for cross-border payment of Beijing Branch of State Administration of Foreign Exchange, UMP has been the only one with the pilot permit among the third-party payment services providers of the third batch. The business partners of UMP has already been all over the world, including mia, meituan, haitaole, fenqile, wish and etc..
What are the advantages of using UMP?
- Real time exchange rate：UMP cooperate with CITIC to build up a legal foreign exchange business system. Exchanging will be calculated in real time exchange rate, which can be checked on the website of CITIC.
- T+0/T+1 Settlement: UMP arranges settlement twice a day.
- Efficient funds credited into account：No intermediate accounts are required. Funds will be credited to merchant’s account directly.
- Convenience: Do not need to register an UMP account. Support for 15 kinds of foreign currency. DO not subject to SAFE annual settlement of the total amount of $ 50,000 limit.
- Safety: 24*7 network monitoring system with second-level alarms for malfunction, real-time interception of risk transactions.
- UMP is a third-party payment company in China, no need to cooperate with other companies.
How to transfer money into merchant’s account?
- Login in Wish Merchant account, set the payment provider as “ 联动支付(UMPAY)” in “Payment Setting” Page.
- Fill in related info to receive money: Bank Name, Receiver Name, Account Number, Phone Number, Identification Number, then click “Update Payment Information”.
- Wish will transfer money at regular intervals on the 1st and the 15th each month, and there’s no intermediate account, that it doesn’t need merchant to operate again, instead that the money will transfer into merchants’ bank account directly.
Agriculture Bank of China, Bank of Communications, Bank of China, Industrial and Commercial Bank of China, China Construction Bank, China Everbright Bank, Industrial Bank, China Guangfa Bank, Shanghai Pudong Development Bank, China Minsheng Bank, China CITIC Bank, China Merchants Bank, Hua Xia Bank, Ping An Bank, Postal Savings Bank of China, Bank of Lanzhou, China Zheshang Bank, Bank of Hebei
How do I confirm funds have been transferred to merchant’s account?
Except for real-time inquiry, merchant will receive SMS notifications.
UMF Chinese Customer Service
Hotline: 400-112-5883 (24*7)
WeChat Official Accounts: umpay3u
Official Website: www.umpay.com www.soopay.net