China UnionPay and China Southern Airlines have entered into a cooperative framework agreement and jointly announced to establish Yinhang Payment Laboratory.

According to the cooperative agreement, China UnionPay and China Southern Airlines will work together to explore and establish technical standards for electronic payment of airline industry and promote the application of bankcard and electronic payment business in the aviation field through the platform of Yinhang Payment Laboratory.

The two parties will gradually increase the layout of card swiping POS machines at airline ticket outlets and conduct cooperation in the field of mobile phone payment, internet payment, telephone authentication payment for debit cards and direct ticket sales at CUP convenience service points.

It’s learnt that China UnionPay is currently collaborating with relevant parties to provide bankcard payment solutions to railway, insurance, highway, public transit and social insurance industries, to improve the acceptance environment of bankcard.