UnionPay now accepted by over 28 mln merchants outside China

Meanwhile, Union Pay has further expanded its existing cashback rewards programme, with eight Chinese commercial banks issuing UnionPay cashback rewards cards. All 28 million overseas merchants are covered in the cashback rewards, as well as other promotion programs offered by UPI.

The UnionPay acceptance footprint has expanded to 174 countries and regions. In the Asia Pacific and Europe regions, UnionPay payment is available in about 90% of the merchants; meanwhile, some 80% of merchants in the US now accept payments with UnionPay credit cards.

In July 2019, UnionPay unveiled its first cross-border cashback rewards programme. Cardholders shopping at overseas or online merchants accepting UnionPay services enjoy 1% cashback reward for each purchase, with the maximum reward capped at CNH 1,000 per month.