Making Foreign Card Payments a Breeze: Newland NPT Invited for Interview by Leading Media

In the post-pandemic era, with cross-border travel and economic activities surging, the demand for foreigners to make purchases in China is on the rise. Recognizing this trend, the People's Bank of China recently held a conference in Shanghai to promote the optimization of payment services by financial institutions, explicitly calling for enhanced payment convenience for foreigners visiting China.

Focusing on the progress of improving foreign card payment convenience in commercial scenarios, Shanghai Television Station recently aired a special feature report exploring the latest developments. As a leader in China's payment terminal industry, Newland Payment Technology Company (NPT) was invited for a media interview to share the insights.

Recently, China UnionPay has launched Project "Excellence 2024," a direct response to the call for optimizing payment services and enhancing payment convenience. This initiative aims for "triple full coverage" --- encompassing "full domains, full scenarios, and full solutions" --- and will be advanced through the "30bn+X" model, fostering collaboration across various industry players. As a leader and pioneer in China's payment terminal industry, Newland Payment Technology Company (NPT) maintains close partnerships with leading banks, including China's top ten. The Company is committed to actively supporting China UnionPay's "Excellence 2024" initiative, contributing its expertise to achieve the goal of "triple full coverage".

The "triple full coverage" concept refers to full domains, full scenarios, and full solutions. Full domains involve coordinated planning and integrated implementation both domestically and internationally. With three decades of experience in the payments sector, NPT operates across more than 120 countries and regions, ranking first worldwide in the shipment volume of payment terminals, as reported by Nielsen. So the Company has numerous successful examples of enhancing the convenience of international card transactions. Full scenarios focus on providing convenient services across 8 key foreign-related sectors: food, accommodation, transportation, tourism, shopping, entertainment, healthcare, and education. With over 100 million devices shipped worldwide, NPT's full product matrix covers almost all commercial application scenarios, comprehensively supporting payments with both domestic and foreign cards for services across all scenarios. Full solutions mean that "Excellence 2024" will progressively enable cardholders to enjoy efficient, convenient, and secure payment services through cards, QR codes, and mobile Pay options. The Company has extensively researched the shopping habits and pain points of overseas users and offers innovative and practical solutions that combine payment methods and scenarios. Currently, NPT's range of classic best-selling and new payment terminal products for the domestic market, such as the portable smart POS terminal N910 Pro, the versatile smart POS terminal T9, the simple wireless portable POS terminal SP620, the multifunctional PIN pad P300, the MIS-specific PIN pad ME51, and the smart mini POS terminal N850, all fully support a wide array of payment methods including domestic and international cards, QR code scanning, NFC, and digital currency. Therefore, whether users are elderly people or foreign visitors, they can choose their preferred payment method independently.

Drawing upon 30 years of technological expertise and industry experience, NPT holds a leading position in upgrading foreign card payment infrastructure. The Company will leverage the "Excellence" initiative as a focal point to promote the development of a multi-layered, diversified payment service system. Through collaboration with various partners, the Company intends to foster an inclusive and user-friendly payment ecosystem, propelling the payment industry towards high-quality growth.