UnionPay, MiFinity team up for cross border remittance services

Currently, there are 22 overseas institutions that support UnionPay card cross border remittance services, covering 45 countries and regions including Japan, Singapore, the UK, and Russia. Since the outbreak of COVID 19, there is an increasingly need for overseas Chinese to remit to their relatives due to travel and other restrictions. In response to this, UnionPay International has been accelerating its cooperation with domestic and foreign financial institutions.

In the first half of 2020, BOC Hong Kong, EasyLink in Hong Kong, KB card in South Korea and other overseas institutions successively introduced UnionPay card cross border remittance services, and Bank of Inner Mongolia, Zhejiang Rural Credit Cooperative and Wuhan Rural Commercial Bank joined other existing institutions to support such services.