UnionPay International announced on September 24th that it has signed a cooperation agreement with the Indonesian transfer network ALTO in Shanghai. According to the agreement, both parties will open all 46000 ATMs under ALTO and member banks to accept UnionPay cards, and accelerate cooperation in cross-border mobile payments to enhance the payment experience for personnel traveling between China and India. Indonesia is one of the largest economies in Southeast Asia. With China and India accelerating the joint construction of the "the Belt and Road" cooperation, more than 95% of Indonesian merchants' POS terminals have accepted UnionPay cards, and many local mainstream banks have also issued UnionPay cards. Since the beginning of this year, the transaction volume of UnionPay cards issued in Indonesia has increased fourfold compared to the same period last year. On this basis, UnionPay International actively improves its Indonesian cash withdrawal services for UnionPay cardholders to meet their diverse payment needs. ALTO is an important component of Indonesia's national network GPN, and this cooperation will increase the local UnionPay card ATM acceptance coverage to 90%, and drive the improvement of card experience in popular tourist destinations such as Bali and Jakarta. This time, both sides agreed to accelerate the cross-border interconnection of local QR codes between China and India. The mobile payment business in Indonesia has developed rapidly in recent years, and the Indonesian national QR code standard QRIS, operated by ALTO, has covered over 30 million local merchants. In response to this trend, UnionPay International actively promotes compatibility between UnionPay QR codes and QRIS. After the future cooperation is implemented, Chinese residents will be able to use the Cloud QuickPass app and commercial bank apps that connect to the "Cloud QuickPass Network Payment Platform" to scan QR codes for payment in Indonesia. The Indonesian wallet app can also be directly used by merchants who accept UnionPay QR codes worldwide. In recent years, UnionPay's acceptance network has extended to 182 countries and regions overseas, covering over 69 million merchants overseas. Over 240 million UnionPay cards have been issued in 82 countries and regions overseas. While accelerating the improvement of its own network construction, UnionPay International actively promotes interconnectivity with local QR code networks overseas. Currently, relevant projects have been implemented in countries including South Korea, Sri Lanka, Singapore, Vietnam, Cambodia, Malaysia, Laos, and Thailand. (New Society)