Wavemaker Wins China UnionPay
Wavemaker today announced to have won China UnionPay's full media integration planning business with a brief to focus on supporting brand growth in China’s lower tier cities.
A China UnionPay spokesperson said, “Wavemaker’s rigorous and efficient media system, the deep consumer and regional insights and the overall professionalism of everyone we’ve met across the agency is impressive. We fully trust both Wavemaker’s digital media expertise and lower tier market knowledge, we and look forward to working together."
Jimmy Huang, General Manager of Wavemaker, who lead the pitch, said: “The competitive environment of the Chinese market for payment platforms is a clear challenge to UnionPay. I look forward to tackling this and bringing the brand growth with a different approach to media and market segmentation.”
Gordon Domlija, Wavemaker China CEO & APAC President, said: “I’m very proud of the incredible team who landed this client for Wavemaker – and in doing so also opens the door for future opportunities. The win is both testament to our hard work and to the power of collaboration across our Wavemaker, GroupM and Kinetic teams. United we can offer client a premium service, and I am delighted to see this recognised by UnionPay.”
Since the launch of UnionPay in 2002, its tri-colour brand logo has appeared on more than 5 billion bank cards. Up to now, the UnionPay card network has been extended to more than 160 countries and regions, with hundreds of millions of cardholders. UnionPay's brand awareness in mainland China is nearly 100%, and it continues to lead the Chinese bank card market.
China is already the world's largest mobile payment market and is in a leading position in terms of mobile payment users' scale, transaction volume and penetration rate. According to the 2019 China Mobile Payment Development Report, the number of mobile payment users in China was about 890 million in the first half of 2018, and the penetration rate of mobile payment among mobile phone users (the proportion used in the past three months) was as high as 92.4%. China UnionPay launched the Cloud Flash Pay App in December 2017 and has achieved great results in the fierce competition. At present, the cumulative number of users has reached 200 million.