Turkey's ZIRAAT BANK has signed an agreement with UnionPay International to accept UnionPay cards at all of its ATMs and POS terminals by the end of the year, so as to further expand the scope of UnionPay cards in Turkey and to improve the experience of UnionPay cardholders visiting Turkey.
UnionPay expects that by the end of this year, the acceptance coverage rate of UnionPay cards at ATMs in Turkey will be increased from the existing 50% to near 70%, and that of POS terminals rising from 80% to near 90%. At present, over 6.3 billion UnionPay cards have been issued globally, making UnionPay the world's largest cardholder group.
Garanti Bank is to issue UnionPay credit cards this year as well, UnionPay said.
Showing posts with label Unionpay. Show all posts
Showing posts with label Unionpay. Show all posts
30 September 2017
12 May 2017
UnionPay acceptance grows around the world
UnionPay has realised the global expansion of its network, brand and
products, and has promoted the globalisation of China's financial
technical standard too. UnionPay International now has presence in over 50 markets along the Belt and Road, the company has announced.
UnionPay International CEO Cai Jianbo said, "Our strategy is to suit our measures to the local conditions in different markets, supporting the personnel exchanges between China and other regions and facilitating the Going Global of China's financial standards."
In Kazakhstan, for example, over 1.3 million UnionPay cards have been issued. UnionPay's acceptance coverage at ATMs and point of sale (POS) terminals has increased from 50% and 20% respectively to 80% each in two years. Penetration is expected to grow to 95% this year.
In Pakistan, UnionPay is accepted at almost all the POS terminals and over 70% of ATMs. More than 3.4 million UnionPay cards have been issued, making UnionPay the international card brand with the second-largest market share there.
In 2016, the transaction volume in China with UnionPay cards issued in Pakistan and Nepal almost tripled, and that of UnionPay cards issued in Kyrgyzstan and Indonesia grew by about 50%.
UnionPay also participated in the construction of Laos' national bankcard payment network, and has jointly built the Thai Payment Network (TPN) with the major banks in Thailand. UnionPay also helped Thailand in creating its own debit card brand, TPN.
The UnionPay chip card standard is adopted as the recommended standard in Thailand and Myanmar, and is taken as the cross-border chip card standard of the Asian Payment Network (APN). This February, UnionPay International and the Philippines' switch network, BancNet, announced that they would promote the latter's member banks to issue UnionPay chip cards in a large scale.
UnionPay International CEO Cai Jianbo said, "Our strategy is to suit our measures to the local conditions in different markets, supporting the personnel exchanges between China and other regions and facilitating the Going Global of China's financial standards."
In Kazakhstan, for example, over 1.3 million UnionPay cards have been issued. UnionPay's acceptance coverage at ATMs and point of sale (POS) terminals has increased from 50% and 20% respectively to 80% each in two years. Penetration is expected to grow to 95% this year.
In Pakistan, UnionPay is accepted at almost all the POS terminals and over 70% of ATMs. More than 3.4 million UnionPay cards have been issued, making UnionPay the international card brand with the second-largest market share there.
In 2016, the transaction volume in China with UnionPay cards issued in Pakistan and Nepal almost tripled, and that of UnionPay cards issued in Kyrgyzstan and Indonesia grew by about 50%.
UnionPay also participated in the construction of Laos' national bankcard payment network, and has jointly built the Thai Payment Network (TPN) with the major banks in Thailand. UnionPay also helped Thailand in creating its own debit card brand, TPN.
The UnionPay chip card standard is adopted as the recommended standard in Thailand and Myanmar, and is taken as the cross-border chip card standard of the Asian Payment Network (APN). This February, UnionPay International and the Philippines' switch network, BancNet, announced that they would promote the latter's member banks to issue UnionPay chip cards in a large scale.
6 July 2016
UnionPay International launches cross-border marketing initiative, global promotions
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| Source: UnionPay International. Ge Huayong, Chairman of China UnionPay (sixth from the right), Cai Jianbo, CEO of UnionPay International (fifth from the right) and officials from the first partners jointly attended the ceremony. |
UnionPay International and its partners Bank of China, China Merchants Bank, CYTS, Ctrip, Spring Airlines, SaSa Hong Kong, Prince Jewellery & Watch, LUKFOOK JEWELLERY, and ISA, have jointly announced 优计划 (Youjihua, literally 'a beneficial strategy' and a play on the 'you' in the Chinese name for UnionPay), the world's first open cross-border marketing platform developed by a bankcard scheme. More merchants are expected to join 优计划, providing cardholders with more diverse offers and better cross-border consumer experiences.
Announced in Shanghai, China, 优计划 enhances the ecosystem for card-based retail and marketing with integrated cross-border capabilities, and helps UnionPay International target its global marketing focus on airport duty-free shops, selected travel destinations and famous business districts more precisely while improving the cardholder experience.
China UnionPay Chairman, Ge Huayong said the launch of 优计划 embodies UnionPay's core value of “win-win cooperation and sharing growth” and noted that it also meets cardholders' demand for new payment options. "We will work together to develop a cross-border payment service ecosystem based on mobile Internet, and all partners will benefit from this new business model. 优计划 is also a successful UnionPay initiative in marketing and service. We welcome more commercial banks, travel agencies and merchants to join 优计划 to jointly enhance our cross-border payment services and to realise the common development of multiple industries," he said.
BOC Deputy Governor, Xu Luode said, "UnionPay International’s 优计划 has shown three main characteristics. First, it brings out the advantages of UnionPay’s integrated resources, establishing an open platform. Second, it leverages the mobile-Internet developing trend. Then, it lifts the consumer experience to a new level. BOC will continue cooperating with UnionPay International to jointly enhance the cross border payment experience."
CYTS President Zhang Lijun said, “优计划 is an important achievement of cross-border payment and the four-party model. It brings together the supplier, merchant as well as well the customer, and provides services which caters to customer needs based on the leadership of UnionPay International. 优计划 will enhance the customer experience greatly, and will surely gain acceptance from the public."
UnionPay International has also launched two global marketing programmes: 100 global airport duty-free shops and 50 selected travel destinations. Cardholders can enjoy up to 10% discounts at over 100 duty-free shops in about 90 airports globally. And from July 15 to October 15, up to 15% off is offered at over 300 merchants in 50 travel destinations, covering both traditional shopping and catering merchants as well as airlines and hotel bookings, transportation, and entertainment. Participating merchants for these programmes are expected to join 优计划 in due course.
11 December 2015
Express China visa privileges for UnionPay cardholders in Singapore
UnionPay International (UPI), a subsidiary of China UnionPay, and Chinese Visa Application Service Centre have introduced exclusive VIP services for UnionPay cardholders in Singapore who wish to apply for a Chinese visa. The express visa application service provides UnionPay cardholders (UnionPay card starting with 62), a dedicated VIP counter with an expedited queue when applying for Chinese visas.
UnionPay is the sole international card brand providing fast track Chinese visa application services at Chinese embassies, consulates and participating visa processing centres. Besides Singapore, there are Chinese visa application service centres in five Australian cities - Sydney, Melbourne, Canberra, Brisbane and Perth that provide similar VIP services to UnionPay cardholders. With the increase in cross border exchanges and to better serve the needs of UnionPay Cardholders, there are plans to expand this exclusive services to other Asian markets in the near future.
In Singapore, UnionPay cards are issued by Bank of China (BOC), Industrial & Commercial Bank of China (ICBC) and United Overseas Bank (UOB).
The number of UnionPay cards issued outside of China has grown to over 50 million, across more than 40 countries and regions. In Singapore, UnionPay cards are accepted at almost all ATMs and at over 70% of merchants.
UnionPay is the sole international card brand providing fast track Chinese visa application services at Chinese embassies, consulates and participating visa processing centres. Besides Singapore, there are Chinese visa application service centres in five Australian cities - Sydney, Melbourne, Canberra, Brisbane and Perth that provide similar VIP services to UnionPay cardholders. With the increase in cross border exchanges and to better serve the needs of UnionPay Cardholders, there are plans to expand this exclusive services to other Asian markets in the near future.
In Singapore, UnionPay cards are issued by Bank of China (BOC), Industrial & Commercial Bank of China (ICBC) and United Overseas Bank (UOB).
The number of UnionPay cards issued outside of China has grown to over 50 million, across more than 40 countries and regions. In Singapore, UnionPay cards are accepted at almost all ATMs and at over 70% of merchants.
2 December 2015
Maybank inks MoU with China UnionPay Merchant Services
Maybank has signed a MoU with China UnionPay Merchant Services (UMS) to tap into the card payments market in China. This market is estimated to be worth at least RMB14 trillion per year and is growing at about 26% annually. This tie-up is expected to benefit Maybank’s existing corporate customers involved in retail business in China such as automotive distributors, food & beverage outlets, departmental stores and hotels.
Maybank is the first Malaysian bank to sign such an agreement with China UMS, which will also see it boosting its cash management business in China. China UMS is the leading issuer of point of sales (POS) terminals in China currently, with a market share at about 40%.
Under the MOU, Maybank will be able to offer its clients collection and payment solutions including POS machines, online payment solutions, ATM solutions and other professional services. At the same time, Maybank customers will enjoy preferential rates by China UMS when they sign up for its POS terminals or online payment gateway to enable card payments by purchasers of their products. These Maybank customers can also enjoy faster collection of card payment proceeds that will be directly credited into their Maybank accounts after clearing by China UMS.
The signing of the MOU was held at the Maybank Shanghai Branch between Maybank and China UMS. Representing Maybank were Datuk Cheong Kwee Heng, CEO, Greater China and Mr John Wong, Group Head, Transaction Banking while China UMS was represented by Mr Zhang Yong Tao, Vice President and Mr Liu De Wei, General Manager of Marketing Department.
“Apart from deepening our POS business, this strategic partnership is also beneficial for both parties to jointly explore new markets and enhance our service and product offerings by leveraging on the strengths and resources of each other. For Maybank, this is a significant and strategic step in reaching out to the promising China market,” said Datuk Cheong Kwee Heng, CEO, Greater China, Maybank.
“Servicing the banking industry has always been our focus. We are more than willing to share and provide our professional services in POS terminals, online payment platforms, self-service terminal platforms, and other top-class service experience to Maybank for their clients,” says Zhang Yong Tao, VP, China UMS.
Maybank has four branches in Greater China - Shanghai, Beijing, Hong Kong and Kunming - and has been actively involved in the wholesale banking segment in these locations. Cash management has been a growing business within this segment as corporate customers leverage Maybank's Regional Cash Management System (RCMS) to manage their liquidity positions as well as monitor and manage payments to and from their accounts in real time.
Transactions via Maybank’s regional cash management system - Maybank2E-Regional Cash – by clients in Greater China grew by 75% in 2015 since its official launch in 2014, and is expected to increase by 100% by end 2016 following this partnership with China UMS.
China UMS has established 40 subsidiaries in 30 provinces around the country and set up 316 business departments in secondary prefectures and cities. As at September 2015, China UMS was serving close to 5 million merchants, maintaining 6 million POS terminals, and operating 25,000 ATMs across China.
Maybank is the first Malaysian bank to sign such an agreement with China UMS, which will also see it boosting its cash management business in China. China UMS is the leading issuer of point of sales (POS) terminals in China currently, with a market share at about 40%.
Under the MOU, Maybank will be able to offer its clients collection and payment solutions including POS machines, online payment solutions, ATM solutions and other professional services. At the same time, Maybank customers will enjoy preferential rates by China UMS when they sign up for its POS terminals or online payment gateway to enable card payments by purchasers of their products. These Maybank customers can also enjoy faster collection of card payment proceeds that will be directly credited into their Maybank accounts after clearing by China UMS.
The signing of the MOU was held at the Maybank Shanghai Branch between Maybank and China UMS. Representing Maybank were Datuk Cheong Kwee Heng, CEO, Greater China and Mr John Wong, Group Head, Transaction Banking while China UMS was represented by Mr Zhang Yong Tao, Vice President and Mr Liu De Wei, General Manager of Marketing Department.
“Apart from deepening our POS business, this strategic partnership is also beneficial for both parties to jointly explore new markets and enhance our service and product offerings by leveraging on the strengths and resources of each other. For Maybank, this is a significant and strategic step in reaching out to the promising China market,” said Datuk Cheong Kwee Heng, CEO, Greater China, Maybank.
“Servicing the banking industry has always been our focus. We are more than willing to share and provide our professional services in POS terminals, online payment platforms, self-service terminal platforms, and other top-class service experience to Maybank for their clients,” says Zhang Yong Tao, VP, China UMS.
Maybank has four branches in Greater China - Shanghai, Beijing, Hong Kong and Kunming - and has been actively involved in the wholesale banking segment in these locations. Cash management has been a growing business within this segment as corporate customers leverage Maybank's Regional Cash Management System (RCMS) to manage their liquidity positions as well as monitor and manage payments to and from their accounts in real time.
Transactions via Maybank’s regional cash management system - Maybank2E-Regional Cash – by clients in Greater China grew by 75% in 2015 since its official launch in 2014, and is expected to increase by 100% by end 2016 following this partnership with China UMS.
China UMS has established 40 subsidiaries in 30 provinces around the country and set up 316 business departments in secondary prefectures and cities. As at September 2015, China UMS was serving close to 5 million merchants, maintaining 6 million POS terminals, and operating 25,000 ATMs across China.
26 August 2015
Half of all card expenditure comes from Asia Pacific
Euromonitor International has released new data on the global consumer finance industry today. Consumer card payments continued to take share from cash globally from 2014 to 2015 in terms of value, with the lion's share of growth from the Asia Pacific (APAC) region.
APAC accounted for 50% of the card spend in 2015. Card payment value is projected to reach US$29.2 trillion in 2020 with Asia Pacific representing 54% of that total. China’s positive card and electronic payment regulation contributes to this vast growth.
Payment regulations in China led to the country producing the largest card issuers and card network by total processed payment value over the last ten years. Unionpay International, China’s domestic card network, became the largest card network by total processed value of US$6.8 trillion in 2014. The network was able to reach this position due to a near monopoly of payment processing in China, but has more recently turned to regional expansion to sustain growth.
Key consumer finance trends in 2015:
Debit remains the most common card type: In absolute value terms, debit payment value will represent 57% of card payment growth from 2014 to 2020. Emerging market consumers utilising financial services have driven this growth historically and will continue to do so over the forecast period.
More consumers becoming banked: In 46 global markets, approximately 120 million consumers became banked from 2014 to 2015 due to advances in technology, as well as banks' and non-banks' ability to offer financial products and services through mobile devices. Mobile has helped bypass the traditional infrastructure barrier in many emerging markets.
Card value being driven by markets: the UK, US, Canada, China and South Korea are expected to continue driving global card payment value growth. These five markets are forecast to represent 71% of total card payment value in 2015.
Key consumer finance trends in 2015:
Debit remains the most common card type: In absolute value terms, debit payment value will represent 57% of card payment growth from 2014 to 2020. Emerging market consumers utilising financial services have driven this growth historically and will continue to do so over the forecast period.
More consumers becoming banked: In 46 global markets, approximately 120 million consumers became banked from 2014 to 2015 due to advances in technology, as well as banks' and non-banks' ability to offer financial products and services through mobile devices. Mobile has helped bypass the traditional infrastructure barrier in many emerging markets.
Card value being driven by markets: the UK, US, Canada, China and South Korea are expected to continue driving global card payment value growth. These five markets are forecast to represent 71% of total card payment value in 2015.
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