Founded In: 2002
Union Pay
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.
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