China UnionPay and China Southern Airlines Co. Ltd have signed a comprehensive and cooperative framework agreement to establish the Yinhang Payment Laboratory in China.

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, make joint efforts to promote the establishment of the aviation application union for bankcard payment and provide more value-added services to the extensive cardholders for their flights through cooperation in respect of issuing CUP standard theme card products and providing unique travel service for cardholders.