Bitcoin faces challenges: Upload and Bank of China jointly provide services in Greater China

Upload , a company that provides a variety of financial services and actively promotes financial technology innovation, now offers a new service to customers in Greater China and Hong Kong, where customers can use their UnionPay cards to load funds into their Upload wallets. Upload has reached a cooperation with China UnionPay, the largest bank card association in China. Upload will provide China UnionPay customers with a range of safe, reliable and transparent financial services.

In announcing the partnership with China UnionPay, Upload's chairman and CEO Anthony Watson said that since China opened its $7 trillion bank card market to foreign companies on June 1, 2015, Upload has become the first American financial company to provide services to Greater China and Hong Kong.

The important Chinese market

According to Watson, Greater China is not only the world's second-largest economy, but also one of Upload's most important markets. In a blog post, Watson said online transactions are booming in China, with hundreds of millions of smartphones used to pay for meals, take taxis, and shop at department stores.

There is a 3.8% handling fee for loading funds into an Upload account using a China UnionPay card. There are also limits on each transaction and daily transactions.

China UnionPay customers need to present their Chinese passport or resident ID card to open an Upload account.

Funds loaded into Upload accounts will be subject to China's requirements and controls on state capital.

Upload will set up a user support page in China.

Upload's expansion continues

In November, Upload officially launched a new service that allows users in the United States to load funds into their Upload accounts by linking bank accounts, debit cards or credit cards other than Bitcoin . Following its official launch in the European market in October, this expansion in the United States marks the second phase of Upload's global development plan. Upload wrote on its website that this service functionally connects traditional legacy and decentralized financial ecosystems with a "money network."

Businesses, individuals and charities can sell their products and services to customers by using Upload's open API (application programming interface) and Upload Connect. Upload's open API will also provide the files needed to create new applications and services powered by Upload's platform technology.

Client libraries include Android SDK ( Software Development Kit), PHP SDK, Python SDK, and Ruby SDK.

Developers are welcome to join

According to Upload's website, the company is looking for developers who can contribute to the Upload client library in different languages ​​and platforms. Developers need to write a client library that can connect to the Github repository so that Upload can continue to improve and seek further development through collaboration.

"Unleash your ingenuity and allow us to meet the needs of individuals and organizations around the world and change financial services forever, " the company said in a statement on its website.

In addition to US banks, which are already accessible via ACH and the EU and UK, SEPA and UK Faster Payments services already offered by Upload, innovators are now creating apps, products and services that can use China UnionPay cards.

Upload membership is free. Memberships can also be transferred to other parties for free without any maximum transaction amount or volume restrictions.

More innovative services are coming soon

CCN reported in October that Upload plans to work with Visa and Mastercard to issue a virtual and physical dual payment card, so that members can pay online and physical store bills directly using their Upload accounts .