Tencent and UnionPay Team up on China’s Biggest Financial Cloud Project

Tech giant Tencent and leading Chinese payments platform China UnionPay are working together on the launch of an ambition cloud finance project.

On 18 May Tencent and China UnionPay officially commenced cooperation on the “UnionPay Cloud” (银联云) project, according to a report from eGongsi Xun.

The project marks the continuation of work conducted by Tencent with UnionPay subsidiary UnionPay Data (银联数据) on the creation of an “ecosystem cloud.”

According to information from UnionPay the UnionPay Cloud project involves funds of 386 million yuan (USD$54.26 Million), and is currently the largest such undertaking in the financial cloud sphere.

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