To face the COVID-19. UnionPay decides to increase the issuance of contactless payment. As the leader in the financial field, UnionPay dominates the Chinese card payment market and it announced that more than 28 million overseas merchants accept its UnionPay card. However, it is mentioned that only 4 million of these merchants use online mobile payment services via UnionPay card.
In the last year, UnionPay’s consumers as oversea merchants increased 1 million. Extending its international market and building its acceptance network is still necessary and important. And, the use of UnionPay’s mobile payment service is the most significant part to capture more volume.
However, UnionPay needs to take some action against COVID-19. Recently, UnionPay has decided to increase the issuance of contactless cards to guarantee consumer safety across the world. To raise the availability and awareness of online payment service, UnionPay is cooperating with local banks around the world.
UnionPay has already cooperated with Kazakhstan’s Halyk Savings bank to issue more than 100,000 contactless cards. Moreover, UnionPay has also partnered with Gazprombank and Khan Bank in Russia and Mongolia. All the cooperation across the world is accelerating the number of merchants that accepting online checkout payments. These self-check services help the consumers manage their cards and reduce the possibility that consumers go to real banks to fix out.The corresponding UnionPay app will be downloaded much more than last year which is 150 million.
Globepay has integrated UnionPay in our all-in-one payment platform, as UnionPay’s official partner in the UK, we can help UK merchants access to the payment channel for free.
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