An brief introduction to UMPay - Union Mobile Pay
Established in February, 2011, Union Mobile Financial E-commerce is a wholly-owned subsidiary of the Union Mobile Financial Technology Co., Ltd. (UMF). It has already been licensed the nationwide internet payment from the People’s Bank of China. UMPay 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. UMPay 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, UMPay has been the only one with the pilot permit among the third-party payment services providers of the third batch. The business partners of UMPay has already been all over the world, including mia, meituan, haitaole, fenqile, wish and etc..
How do I use UMPay?
Merchants can use UMPay to recharge their ProductBoost balance.
What are the advantages of using UMPay?
- Real-time exchange rate：UMPay 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: UMPay arranges settlement twice a day.
- Efficient funds credited to account：No intermediate accounts are required. Funds will be credited to merchant’s account directly.
- Convenience: Do not need to register an UMPay 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.
- UMPay 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, and navigate to the "Payment Settings" page. You can either choose to set the payment provider as “ UMPay Personal” or "UMPay Business".
- Fill in the personal/ business related information to receive money:
Personal account information- Bank Name, Receiver Name, Account Number, Phone Number, Identification Number.
Business account information- Bank Name, Branch Name, Account Number, Business Name, Business Org Code, Business Contact Name, Business Phone, Business Email.
After providing the information, please click "Update Payment Information".
- Wish will transfer money at regular intervals on the 1st and the 15th of 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.
Supports above-mentioned banks, and more than 200 other banks.
How do I confirm funds have been transferred to merchant’s account?
UMPay guarantees to complete the transfer process of the funds within 12 hours of receiving the funds. The merchant will then receive an SMS notification.
UMPay Customer Service
Hotline: 400-112-5883 (24*7)
WeChat Official Accounts: umpay3u
Official Website: www.umpay.com www.soopay.net