As part of the agreement, Rev has become a registered non-bank third party service provider for UnionPay-branded prepaid products. The partners will make their products and services available to issuing banks and other partners interested in prepaid products.
UnionPay International, the international arm of Shanghai, China-based card scheme China UnionPay, will bring its issuer network, Chinese merchant acceptance network and corporate relationships to the partnership, while Rev will provide its global processing platform, prepaid product set, mobile technology and program management services.
In November 2013, financial institution Bank of China (BoC) and UnionPay International launched the BoC UnionPay travel card in Southeast Asia.
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