Union Pay well known as China Union Pay (CUP) is only domestic bank card organization in the People's Republic of China (PRC). Founded on 26-March-2002, Union Pay 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).
Union Pay International (UPI) is a subsidiary of China Union Pay which focuses on the growth and support of Union Pay’s global business.
Features of Union Pay
Partnership with more than 400 institutions worldwide
Union Pay International has enabled card acceptance in over 150 countries and regions with issuance in more than 40 countries and regions.
Cost effective, secure cross-border payment services to the world’s largest cardholder base
It is an EFTPOS (Electronic Funds Transfer at Point of Sale) network.
Union Pay is second-largest payment network by value of transactions processed, behind Visa.
Union Pay credit cards are also affiliated with American Express, MasterCard or Visa.