UnionPay International accelerates the localization of its overseas business 

UnionPay International is accelerating the localization of its overseas business by enlarging card-issuing scale abroad, and by supporting overseas cardholders’ card-using in the local market, China as well as other countries and regions. Latest data show that, by the end of this June, the transaction volume of overseas-issued UnionPay cards has grown by about 40% year-on-year, well above that of domestically-issued UnionPay cards. Meanwhile, the transaction volume of overseas-issued UnionPay cards takes up about half of UnionPay’s international business.

So far, around 58 million UnionPay cards have been issued in 40 countries and regions outside the Chinese Mainland. This year, several more markets issued UnionPay cards: Lebanon, Jordan and Qatar issued UnionPay cards for the first time; the US issued its first UnionPay credit card, and DBS, the largest commercial bank in Singapore, also issued its first UnionPay card. Meanwhile, UnionPay International cooperated with Bangkok Bank in issuing Thailand’s first local-brand debit card. Countries along the “Belt and Road” such as Russia, Kazakhstan and Uzbekistan also issued various UnionPay card products on massive scales.

“In recent years, we not only deliver payment convenience for the Chinese people’s ‘going abroad’, but also offer secure and convenient service to more overseas customers.” Cai Jianbo, CEO of UnionPay International said, “First, we have enabled many of the merchants and ATMs most frequented by overseas residents to accept UnionPay cards, based on our study on their daily spending and traveling habits. Second, we have driven local mainstream banks to issue UnionPay cards on a large scale, and have developed tailored privileges and exclusive offers. Third, we have rolled out our innovative products and services to meet overseas customers’ diversified payment demands.”

In terms of supporting overseas residents to China, UnionPay card is crucial in improving inbound tourists’ traveling and payment experiences. In the first half of 2016, the transaction volume of Singapore-issued UnionPay cards in mainland China grew by about 6 times, and that of UnionPay cards issued in Australia, Indonesia and Pakistan also grew remarkably. This May, the China Duty Free shops at 8 domestic airports launched special offers for overseas-issued UnionPay cards. Over the past two months, the transaction volume of overseas-issued UnionPay cards in the CDF shop at Changsha Airport grew by over three times, and rapid growth is also witnessed in the CDF shops in Shenyang, Xiamen, and Qingdao.

Moreover, overseas customers are using UnionPay cards frequently for daily spending and international travels, and the international feature of the UnionPay network becomes increasingly prominent. For instance, in the first half of 2016, the transaction volume of Korea-issued UnionPay cards in Southeast Asia, Europe and America increased several times over.

“In addition to the traditional acceptance network construction and local card issuance, we also adopted the mature technology and experience from China’s mobile payment market, and have launched trendy and innovative payment services in overseas markets to attract more customers.” Cai Jianbo said. This year, UnionPay mobile payment products will be launched in Southeast Asia.

It is released that, UnionPay International, on the one hand, will endeavor to promote mobile QuickPass in South Korea and other markets to roll out mobile QuickPass around the globe. On the other hand, it will develop various mobile payment solutions in Southeast Asia to cover highway toll stations, gas stations, supermarkets, convenient stores and parking lots, so as to keep enriching mobile payment’s using channels.

Source: UnionPay

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