, /PRNewswire/ – On April 2, a special taxi booking transaction was successfully completed in Hong Kong. After entering the booking information into the AI assistant developed by technology company Evonet, the tester quickly received a list of available taxi types and prices from the Hoppa ride-hailing platform along with a recommended booking option.
As an international card payment provider with a global reach, UnionPay has officially unveiled the Agent Payment Open Protocol (APOP) model – UnionPay’s solutions for its agent-based payments – platform capabilities or neutrality.
Four key capabilities that underpin the trust mechanism and interaction model for agent-based payments
The APOP model aims to establish a unified trust mechanism and interaction model. By connecting participants in the agent payments ecosystem using trusted routing, they enable any compatible agent, merchant, financial institution and technology platform to integrate in a plug-and-play model, as well as easily and securely participate in complex agent payments processes. This model is based on four key capabilities.
Firstly, the model supports the management of the agent’s identity lifecycle – from registration and data updating to deregistration. Second, by offering end-to-end intent management including intent generation, registration, and verification, the APOP model establishes a trust mechanism centered on user intent. Third, it provides improved user identity management. The model enables single sign-on (SSO) between participants such as agents, sellers and financial institutions, allowing credentials to be shared while maintaining privacy and security. Fourth, the APOP model offers a comprehensive set of payment authorization services, including agent payment activation authentication, account debiting, and user consent verification.
Global industry participants are working together for an open and secure agent payments ecosystem
The APOP model is based on the principles of openness and interoperability. Built on UnionPay’s global acceptance network, it seeks to develop industry-wide standards and create an inclusive framework that enables interoperability between institutions, platforms and applications both within and beyond mainland China.
Additionally, four additional principles are particularly important in the design of the APOP model. First, compliance and auditability. Agent payments must meet applicable regulatory requirements to ensure that the business model remains compliant with evolving regulatory trends. Secondly, safety is a priority. By verifying agent identity and managing intent, the model makes agent payment processes understandable, traceable and fully reproducible. Third, increased trust. The model clearly defines the responsibilities, rights and risks of all stakeholders, providing a solid basis for resolving disputes. Fourth, wide compatibility. A variety of access solutions are offered that enable participants to integrate into the ecosystem in a cost-effective and seamless manner, while maintaining a high level of scalability.
According to Dong Junfeng, chairman of China UnionPay, the company will continue to pursue its vision of “trusted relationships, shared success” by working closely with industry partners and actively leveraging the breakthrough capabilities of artificial intelligence. By leading this collaborative effort, UnionPay aims to chart a new direction for agent payments that is secure, inclusive, efficient, globally connected, and controllable, taking the payments industry to new heights in the AI era.