Global UnionPay card issuance surpasses 5 bln - chairman says

Friday 12 June 2015 11:33 CET | News

The cumulative number of UnionPay cards issued globally has exceeded 5 billion and UnionPay has become Chinese residents preferred payment brand, according to Ge Huayong, Chairman of China UnionPay.

While providing payment services to the worlds largest cardholder base, UnionPay is working closely with major cities including Shanghai to improve its services. The payment network has built up a platform where residents are able to pay utility and credit card bills. It has also been promoting the contactless UnionPay QuickPass service for small-ticket transactions, by which payment can be completed with a tap-and-go.

To keep up with the trends of the payment market, UnionPay has created an online payment platform and stepped up efforts in mobile payment. Its online and mobile payment users have surpassed 200 million to date. In overseas markets,  UnionPay products and services are increasingly being used, with 10 million online merchants outside the Chinese mainland currently accepting payment with UnionPay cards. As UnionPay chip cards are issued in a large scale, new applications including QuickPass are also being enriched.

UnionPay International also announced on the same day a partnership with CartaSi, the largest acquirer in Italy, which will see 15,000 merchants under CartaSi start accepting UnionPay cards by the end of July this year.

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Keywords: UnionPay, card issuance, world, exceed, surpass, growth, adoption, debit cards, e-payments
Categories: Payments & Commerce | Online Payments
Countries: World
This article is part of category

Payments & Commerce