Saturday, March 15, 2025
News
NEWS HOME
»
PRN INDIA
UnionPay International's continuous expansion of its global network sees over 200 million cards issued outside the Chinese Mainland
  SocialTwist Tell-a-Friend  
   

10 Years of Providing Innovative Global Payment Services

SHANGHAI, Dec. 30, 2022 /PRNewswire/ -- With the issuance of UnionPay cards exceeding 200 million outside the Chinese Mainland, UnionPay International (UPI) is stepping into a new decade of providing high quality, cost effective and secure cross-border payment services to the world's largest cardholder base. UPI's partners have expanded from 60 initial members since establishment in 2012 to 2,500 institutions internationally with an acceptance network that currently spans 181 countries and regions, 78 of which now issue UnionPay cards, ensuring convenient local services to an ever-growing number of global UnionPay cardholders and merchants.

UnionPay International vastly improves the cross-border payment experience for local cardholders

Over the past decade, UPI has ceaselessly developed cutting-edge payment technology to share a brand-new cross-border payment experience with UnionPay cardholders in every corner of the globe. Presently, outside the Chinese Mainland, 38 million global merchants accept UnionPay cards, a four-fold increase since 2012, with four million new merchants added in 2022 alone. UnionPay card acceptance rates in APAC, Europe and North America have reached 95%, 80% and 80% respectively, while 22 million online merchants in 200 countries and regions now use UnionPay for payments.

During these ten years, the digital transformation of the global payments industry has developed rapidly, and UPI has accelerated product iterations and service upgrades to meet the ever-changing payment habits of international customers. Collaborating closely with central banks, national switch networks, and payment alliances, UPI has shared its innovative financial infrastructure and technical standards in countries such as Thailand, Philippines and has become the unified cross-border chip card standard of Asian Payment Network.

UPI's global expansion reflects its impressive technological and digital innovation

In recent years, the unified UnionPay App was launched for the banking industry that supports UnionPay contactless, QR code and In-APP payments, largely enhancing mobile payment experiences for cardholders. Including the UnionPay App, more than 170 UnionPay standard e-wallets have been launched outside the Chinese mainland, and over 16 million international merchants can experience the convenience brought by QR code payments or the "swipe" QuickPass.

In 2018, the Hong Kong and Macau SAR version of UnionPay App was launched and in four years, has become one of the most popular mobile payment products for residents. Access to UnionPay mobile payment services includes Singapore's PayLah!, Malaysia's Boost, Thailand's K Plus, as well as multiple other leading products. Behind these achievements lie of UPI's technical service platforms, including developer, cloud card issuance, and scenario service platforms, which reduce technical difficulties and costs for partners to access UnionPay mobile services, supporting more financial institutions. Telecommunications, retail, and other enterprises have also joined the UnionPay mobile payment ecosystem to enhance the mobile payment experience of international cardholders.

UnionPay's global reach continues apace and will expand further in the coming decade

Expanding its global reach, ongoing innovation, and ease-of-use for cardholders the world over,  the first issuance of UnionPay cards in Zambia launched earlier this year where they are fast becoming a new payment preference.  More  than 20 million UnionPay cards have been issued internationally since the beginning of this year, with transaction rates exceeding pre-pandemic levels. In APAC, one-in-four newly issued bank cards is from UnionPay which now accounts for 95% of debit cards in Hong Kong and Macau SAR. The Nilson Report ranked UnionPay's transaction volume first among major international card issuers in APAC for 2021.  

Cision View original content:https://www.prnewswire.co.uk/news-releases/unionpay-internationals-continuous-expansion-of-its-global-network-sees-over-200-million-cards-issued-outside-the-chinese-mainland-301711376.html

More News by PR Newswire India

/DISREGARD RELEASE: Bybit/

Kushal's Fashion Jewellery Festive Collection, adorned by Tara Sutaria, beautifully combines glamour and elegance

Unilumin Group Signed an Agreement with Saudi Arabia in the Third Belt and Road Forum for International Cooperation

Transport Corporation of India Ltd. (TCI Group) has been recognized as a Maritime Excellence Achiever at GMIS 2023 by The Ministry of Ports, Shipping & Waterways on 19th October 2023

Bitget Introduces 'Futures Quant' With AI Features

Bitget's Q3 Growth: Second-Highest Market Share Surge and Record High for BGB Holders

HarperCollins Publishers India is proud to announce the publication of SPREADING JOY: How Joyalukkas Became the World's Favourite Jeweller by Joy Alukkas with Thomas Scaria and Nidhi Jain

Go Global or Go Home: New Report Reveals Companies Lacking Global Presence Will Lose Growth Opportunities

MOVIN rolls out the second phase of Electric Vehicles in Bengaluru paving the way for greener deliveries in logistics

Motilal Oswal Financial Services Ltd. (MOFSL) launches #CorporateMushaira, an audio-first campaign for the World Investor Week

UBBF 2023 Intelligent IP Network Summit in Dubai an Impressive Success

Placing Them Right: IBS Path to MBA Career Success

HDFC ERGO reiterates its commitment on making health insurance Accessible, Affordable and Convenient with launch of 6 new products and 2 service upgrades

capSpire expands its global footprint with entry into the Singapore market

GTPL Hathway records its highest quarterly revenues from operation

CCTV+: International reporters experience the romance and vitality of Hangzhou, China

STL expands its Enterprise Networking solution portfolio with Estelan

Mantittude: Skincare for Men encourages men to unleash their inner 'Pataka' this Diwali

The 134th Canton Fair Opened with Optimized Structure and Upgraded Scale

MADAME TUSSAUDS SINGAPORE UNVEILS LIFELIKE FIGURE OF CRICKET ICON VIRAT KOHLI AMIDST ICC MEN'S CRICKET WORLD CUP!

Ugreen unveils power solutions and personal data storage at the Gitex Trade Show in United Arab Emirates.

Meridean Overseas Education Consultants Announces Half-Day Leave to Celebrate India vs. Pakistan Cricket Match

Xinhua Silk Road: Huai'an, UNESCO creative city of gastronomy, explores innovative dev. of food industry via premier regional food expo

Xinhua Silk Road: Fengxin County in E. China's Jiangxi celebrates bountiful harvest of kiwifruit

Casio to Release G-SHOCK Watches with Shining Metallic-Colored Dials

UEG Week 2023 : Babies with a low birthweight four times more likely to develop fatty liver disease in later life

CGTN: Diffusion of tea and its culture along the Silk Road

NEOM announces Leyja, its latest sustainable tourism destination

Expand North Star 2023 kicks off in Dubai gathering game-changing start-ups to accelerate on global stage

World Health Summit kicks off in Berlin

Hexaware Technologies announces new office in Dehradun to bolster its global delivery network

Chinese automotive industry has overtaken to supercars

Participants of the Made in Russia business mission to India held more than 150 negotiations with local importers and distributors

Rummy Passion Raises the Bar: Instant Withdrawals Now Available for All Tiers

 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
INDIA WORLD ASIA
'Law and order situation has become terr...
BJP Spokesperson Rachna Reddy reacts to ...
'Dismal, directionless, insensitive': BJ...
BJP spokesperson Rachna Reddy slams Kera...
Giridih violence: BJP leader Babulal Mar...
'Delhi govt inspired, committed to compl...
More...    
 
 Top Stories
Pakistan: Ex-Chairman of Baloch Stu... 
Emirati Children's Day celebrates e... 
Latifa bint Mohammed: 'Our children... 
"Adjusting to thought of world with... 
Abdullah bin Zayed: 'We reaffirm ou... 
"Extremely sad": Rajasthan CM condo... 
"Not just administrative decision b... 
IACAD contributes AED 1 million to ...