Wednesday, October 16, 2019
News
NEWS HOME
»
PRN INDIA
Wirecard and UnionPay, the World's Largest Card Scheme, Sign MoU to Form Expanded Global Strategic Partnership
  SocialTwist Tell-a-Friend  
   

-   UnionPay leads the global card scheme market, having issued 57.6% of the world's payment cards in circulation

-   Partnership aims to support Wirecard's growth in China

-   Scope includes expanding global acceptance of UnionPay and developing joint digital payment solutions

ASCHHEIM, Germany, Sept. 16, 2019 /PRNewswire/ --    Wirecard, the global innovation leader for digital financial technology, has signed an MoU with UnionPay, the world's largest card scheme, to form a global strategic partnership. The agreement will support UnionPay's ongoing international expansion and Wirecard's growth in China and with Chinese businesses.

With over 7.59 billion cards issued under its brand, amounting to 57.6% of the world's payment cards in circulation according to the Nilson Report, UnionPay leads the global card scheme market, and is an association for China's banking card industry. The cooperation between Wirecard and UnionPay will focus on expanding the global acceptance of UnionPay as a digital payment method across all channels. In addition, the partnership will also launch a number of issuing projects, including corporate solutions such as payout products and SCP (Supplier and Commission Payments), and consumer-oriented products in the form of digital wallets for incoming tourists to China.

"As the world's largest card scheme in terms of card issuance, UnionPay will be one of our key alliances in Asia," commented Georg von Waldenfels, EVP Group Business Development at Wirecard. "We're excited about the immense potential this partnership creates for both entities, and to deliver innovative solutions for current and future UnionPay cardholders globally. As a major tourist and business destination, China receives hundreds of millions of travelers every year, which means that the scope of our solutions will also address non-Chinese nationals and enable them to pay with UnionPay nationwide."

"Through our global strategic partnership with Wirecard, we plan to continue driving our international expansion forward," added Larry Wang, Vice President at UnionPay International. "We are proud to have an experienced partner in digital financial technology and global payments by our side to provide an even wider range of innovative solutions for UnionPay customers. We look forward to launching our partnership with Wirecard."

The initial stage of the partnership will focus on launching additional projects in Asia-Pacific, Europe and the US, where both partners already work together for several years. Especially point of sale and issuing solutions will merge with the existing online payment business. Additionally, a consumer solution for the upcoming 2022 Winter Olympics in Beijing is being planned to take advantage of the large number of tourists who will visit the country.  

About Wirecard:

Wirecard (GER:WDI) is one of the world's fastest growing digital platforms in the area of financial commerce. We provide both business customers and consumers with a constantly expanding ecosystem of real-time value-added services built around innovative digital payments by using an integrated B2B2C approach. This ecosystem concentrates on the areas payment & risk, retail & transaction banking, loyalty & couponing, data analytics & conversion rate enhancement in all sales channels (online, mobile, ePOS). Wirecard operates regulated financial institutions in several key markets and holds issuing and acquiring licenses from all major payment and card networks. Wirecard AG is listed on the Frankfurt Stock Exchange (DAX and TecDAX, ISIN DE0007472060). Visit us on www.wirecard.com, follow us on Twitter @wirecard and on Facebook @wirecardgroup.

About UnionPay:

China UnionPay (CUP) is a bankcard association founded in 2002 in Shanghai, China, with an aim to facilitate interbank transactions in the Chinese Mainland. So far, all POS and ATM terminals of all the banks in mainland China are connected to the UnionPay network. UnionPay International (UPI) is a subsidiary of CUP focused on the growth and support of UnionPay's global business. In partnership with more than 2,000 institutions worldwide, UPI has enabled card acceptance in 174 countries and regions with issuance in 56 countries and regions. UPI provides quality, cost-effective and secure cross-border payment services to the world's largest cardholder base and ensures convenient local services to a growing number of global UnionPay cardholders and merchants.

Wirecard contact:

Wirecard AG
Iris Stöckl
VP Corp. Comm./IR
Tel.: +49 (0) 89-4424-1424
Email: iris.stoeckl@wirecard.com
http://www.wirecard.de
ISIN DE0007472060
Reuters: WDI.GDE
Bloomberg: WDI GY

UnionPay contact:

UPIPR
Tel.: +86 (0) 21 2026 5843
Email: UPIPR@unionpayintl.com

 

More News by PR Newswire India

Vu Televisions Emerge as Market Leaders in Large Size and 4K Category in India

A Holistic Approach to Food and Nutrition Security This World Food Day

APU Celebrates its 3rd Convocation

SenRa and Bosch Partner to Deploy LoRaWAN® Solutions in India

LifeNet Health brings first clinically proven allograft-based biologic wound therapy to India

The Smart Contract Security Alliance Announces Founding Council

Patrick Imbardelli Elected to YPO Board of Directors

World Intellectual Property Indicators: Filings for Patents, Trademarks, Industrial Designs Reach Record Heights in 2018

Saudi Joy Forum 19, A Success For The Region And World

AIC Named North American Distributor Of Organic Rice, Organic Brown Rice And Organic Pumpkin Seed Proteins

WISPA Members Vote Cambium Networks Manufacturer of the Year

IMI and GustoMSC Sign Jack-up Design License Agreement

New Report: Laundry Releases Trillions of Plastic Microfibers Into the Ocean

FOX Bet Strikes Multiyear Deal With Major League Baseball

OhmniLabs Showcases Latest Telerobotics Innovations At CEATEC 2019

Airspan - Breaking Down the Barriers to Entry With the New Mimosa Connectorized A5x Access Point

TMP Worldwide Acquires UK-Based Social Media Leader Carve

CleverTap Completes $35 Million Series C Funding to Drive Global Growth

Charles Manning, Founder and CEO, Kochava, joins Forbes Technology Council

10th Foundation Day Celebrations Start at Shoolini University

Tourcom LLC, Holding Company of Tourcom Blockchain, Signs Strategic Investment Agreement through Equity Acquisition of Travel Information Sharing Service 'Wishbeen'

WorkBoard Announces Deeper Jira Integration to Bring Team OKRs into Developers' Jira Experience

Cision Announces Exclusive Platinum Sponsorship For PRSA 2019 International Conference

Systech Expands Market-Leading Brand Protection Solution for Improved Supply Chain Visibility

Artificial intelligence is transforming health care across Asia, fuelled by innovative public-private sector R&D and a focus on domestic health-care burdens

Sirius Design Group Generates $1.2m Revenue in 4 Years Helping Clients With Digital Real Estate

Dynata Launches New Platform to Transform the Future of Insights and Marketing

S BLOCK Co-Hosts WBF 2019 Indonesia Technology Conference, Creates DAO Super Community

TUV Rheinland Enables LoRaWAN(R) Certification in India

Tukatech Releases TUKAcad for Subscription in Native Languages for 4.38 Billion People

IDFC FIRST Bank and Sodexo Partner to Introduce Digital Meal Benefit Solution for Corporate Employees

Whale Cloud Unveils 5G Operation Map at India Mobile Congress 2019

LyondellBasell Announces Construction of New Small-Scale Molecular Recycling Facility

Celemics Expedites Target Enrichment NGS Data Insights by Partnering With BlueBee on a Global Genomics Data Solution

ZTE launches industry-first 5G+VDSL2 hybrid home gateway

OYO's HR Team Saved 75% At-risk Employees Using inFeedo's Engagement bot, Amber

Ameyo Integrates With Freshworks to Simplify Customer Journey

Nuclear Days 2019 - French Nuclear Industry to Intensify its Operations in Indian Market

Happiest Minds Wins 2019 Red Herring Top 100 Asia Award

The Spielwarenmesse Reveals the Trends for 2020

Xinhua Silk Road: SAIC Motor gains momentum in India with 31,000 orders received by September

CreditVidya Wins the Prestigious 2019 Red Herring Top 100 Asia Award

GCW Global Customised Wealth Announces New Partner: Tim Babich

GTPL Hathway's Consolidated H1 FY20 PAT at â‚ą 580 Million, up by 102%

'Where Will Man Take Us?' by Atul Jalan has been Certified a National Bestseller by Penguin Random House India

Tejas Networks Launches World's Largest Disaggregated Packet-optical Switch at India Mobile Congress 2019

Building on Local Momentum: Malaysia's Greater Petaling Joins City Cancer Challenge

Shanghai International Money Fair - one of China's largest financial fairs will be held in December

Europe's Most Trusted Crypto And Precious Metal Companies Partner To Create Gold Token Secured By Bitcoin Network

RGE Commits US$200 Million to Next-Generation Textile Fibre Innovation and Technology

Medisanté Earns Acclaim from Frost & Sullivan for Ensuring Better Care Outcomes while Reducing Costs

INSIDE INFORMATION: BW LPG Contemplated Sale of Shares

School House Crafts Multi-Sensory Journey of Discovery and Re-collection for La Mer Campaign Exhibition

Vevue Partners with CBX Exchange for Initial Auction Offering

Frost & Sullivan Recognizes Pepco Holdings and Carlsbad Municipal Water District with Excellence in Resourcefulness Awards at Itron Utility Week

His Holiness The Dalai Lama Awarded Honorary Doctorate by Chitkara University

Surplus Keslow Cinematography Gear Up For Auction

Libyan Investment Authority Loses Claim in the UK Court of Appeal - London

Artificial Intelligence for Risk Management Process by MovingNow

Maruti Suzuki Arena Devils Circuit Season 2019-20 Draws Over 6K Runners in Hyderabad

Quectel Achieves Industry's First 5G Data Call over 5G mmWave Module

Artprice by Artmarket: The Gagosian's Grand Projects for the Late Simon HantaĂŻ (1922-2008)

Ryan International Group of Schools Receive India's Most Respected Brand Award 2019

JD Institute Of Fashion Technology, South Announced its New Domain

VeChain Is Leading Co-sponsor of GDST Seafood Trackathons

The World's Largest Automakers, Along with MOBI, Announce a Joint Proof of Concept for the First Vehicle Identity on Blockchain

Indiannica Learning Announces the Launch of Indiannica Quiz League

Third Annual Convocation Ceremony Will be Celebrated in Apex Professional University

An Encounter of Two Icons: Tic Tac® Meets Coca-Cola®

Birlasoft to Accelerate Invacare's Business Transformation Journey Signs US$ 240 mn, Multi-year Deal, to Provide Complete IT-as-a-Service (ITaaS)

Bali Zoo Celebrated Tumpek Kandang Ritual for all its Resident Faunas

Nitin Mantri Becomes ICCO President

DMCC Awarded 'Global Free Zone of the Year' for a Record Fifth Consecutive Year

Apex Professional University Signed MoU with Life Science Sector Skill Development Council

Find TVU Networks at Broadcast India 2019

UAE and UNESCO Renew Partnership, Extending Efforts to Restore Historic Churches in Mosul

Over 70,000 Visitors, SR2m Falcon Sales on First Day of Riyadh Exhibition

The First Huion Tablet of Inspiroy Dial Series, Q620M was Unveiled at Hong Kong Electronics Fair

ZEISS showcases next-level eye care digitalization at AAO 2019

On Your Marks: 2019 Xi'an Yango International Marathon Starts 20 October

Autodesk Fusion 360 Tools Enable Social Hardware to Advance Design of Prosthetics

Bionik Gold Knee- A New Lease of Life for Young Arthritis Patients

Joy Forum19 to boost Saudi entertainment sector

 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
INDIA WORLD ASIA
Dushyant Chautala gets threat call from ...
Delhi's air quality turns 'Very Poor' fo...
CCPA to meet for deciding on winter sess...
Odisha CM not to celebrate birthday over...
14 new institutes for media, ent skill d...
Photo voter slips printed in Braille for...
More...    
 
 Top Stories
Putin visits UAE during Middle East... 
Manipur: Suspected IED bomb found a... 
Wanted to make Bulgaria suffer for ... 
Never thought India could defeat Pa... 
WB govt should apologise: Mukul Roy... 
Hong Kong-based company to invest U... 
PM Modi to hold 3 rallies in poll-b... 
INX Media case: 3 member ED team re...