UnionPay — BrandWiki

UnionPay

Overview

UnionPay

native name	银联 (Yínlián)
type	State-owned
foundation	2002
location	Pudong, Shanghai, China
key people	Shi Wenchao (president)
area served	Worldwide
industry	Financial services
products	Payment systems Credit cards
num employees	559 (UnionPay International)

UnionPay, also known as China UnionPay or by its abbreviation, CUP or UPI internationally, is a Chinese state-owned financial services corporation headquartered in Shanghai, China. It provides bank card services and a major card scheme in mainland China. Founded on 26 March 2002, China UnionPay is an association for China's banking card industry, operating under the approval of the People's Bank of China (PBOC, central bank of China).[1] It is also an electronic funds transfer at point of sale (EFTPOS) network, and the only interbank network in China that links all the automatic teller machine (ATMs) of all banks throughout the country. UnionPay claims that their cards can be used in "183 countries and regions around the world".[2]

In 2015, the UnionPay overtook Visa and Mastercard in total value of payments made by customers and became the largest card payment processing organization (debit

website	unionpayintl.com

Members

UnionPay is the primary network of these Chinese banks:

Other UnionPay-affiliated organisations include municipal commercial banks as well as rural credit cooperatives. Overall, there are 165 financial institutions that issue UnionPay cards.

UnionPay had partnered with JETCO in Hong Kong and Macau until 1 January 2006. As of January 2013, Bank of East Asia and Citibank were the only banks allowed to independently issue UnionPay credit cards in Hong Kong and the mainland. HSBC and its subsidiary Hang Seng Bank independently issue UnionPay credit cards in Hong Kong, while they issue cards in the mainland in cooperation with local banks as noted above. Deutsche Bank only has co-issued cards, with no independently issued UnionPay credit cards.

The following eleven non-domestic banks have the right to issue UnionPay debit cards in China:

UnionPay in other countries:

Agricultural Bank of China
Bank of China (including its Hong Kong-based subsidiaries Nanyang Commercial Bank and BOC Hong Kong)
Bank of Communications (Credit cards )
Bank of Beijing
Bank of Ningbo
Bank of Shanghai
China CITIC Bank
China Construction Bank
China Everbright Bank
China Merchants Bank
China Minsheng Banking Corporation
Guangdong Development Bank
Huaxia Bank (Credit cards co-issued with Deutsche Bank)
Industrial and Commercial Bank of China (ICBC)
Industrial Bank (Credit cards co-issued with Hang Seng Bank)
Ping An Bank
Postal Savings Bank of China (formerly known as the China Postal Savings and Remittance Bureau)
Shanghai Pudong Development Bank
Taizhou City Commercial Bank

Bank of China (Hong Kong)
Bank of East Asia
Citibank
DBS Bank (as of July 2009)
Hana Bank (as of November 2009)
Hang Seng Bank
HSBC
OCBC Bank (as of 2010)
OCBC Wing Hang Bank (as of 2010)
Standard Chartered Bank
Woori Bank (as of May 2009)

Altery offers a UnionPay debit card in the Netherlands, United Kingdom, Japan, Canada[29]
AGD Bank offers a UnionPay debit card in Myanmar[30]
Askari Bank offers a UnionPay debit card in Pakistan[31]
Australia Post, previously distributed the "Load&Go China" card, issued by Bank of China (Australia) Limited; featuring imagery of the Great Wall[32]
Baiduri Bank offers a UnionPay debit card in Brunei[33]

UnionPay

History

Partnerships

Members

See also

External links

References

Use outside of China: Europe

Process for merchants accepting UnionPay in Europe

Process for merchants accepting UnionPay in Europe

Use outside of China: rest of the world

Use outside of China: Europe

Process for merchants accepting UnionPay in Europe

Process for merchants accepting UnionPay in Europe

Use outside of China: rest of the world

2022 Russian invasion of Ukraine