SHANGHAI, Oct. 31, 2019 /PRNewswire/ -- UnionPay International ("UPI"), the world's leading global payment provider, will offer convenient payment solutions to hundreds of thousands of business travelers from over 3,000 international companies attending the 2nd China International Import Expo ("CIIE"), set to take place from November 5 to 9 at the National Exhibition and Convention Center in Shanghai, China.
With the number of UnionPay cards issued outside mainland China surpassing the 120 million mark, an increasing number of exhibitors and expo attendees can enjoy the safety and convenience of UnionPay's payment services in China during this year's CIIE.
To date, UnionPay cards have been issued in 57 markets including Northeast Asia, Southeast Asia, Central Asia, and Africa, which make up a large portion of CIIE attendees and exhibitors. UnionPay is currently the largest card brand in terms of card issuance in several Asian nations, including Laos, Mongolia and Myanmar, and the second largest in Pakistan. UnionPay also has a significant presence in Russia, Kazakhstan, and the United Arab Emirates, with the number of cards issued in each nation exceeding 2.5 million, 2.2 million and 700,000 respectively.
Almost all merchants and ATMs within mainland China—especially those in the tourism and wholesale industry—accept internationally-issued UnionPay cards. In particular, CIIE attendees can use their UnionPay cards to seamlessly conduct transactions in RMB during their stay in China, if they hold an RMB or Dual-Currency card.
Expansion the issuing scale of Commercial Cards to meet growing demand
To better support the rapid acceleration of import and export activities between China and other nations, UPI has expanded the issuing scale of its Commercial Cards.
UnionPay Commercial Cards include UnionPay Business Card, UnionPay Corporate Card, and UnionPay Purchasing Card, and are designed to provide companies and enterprises with a diverse selection of seamless cross-border payment options that tailored to the size or scale of their operations. At present, about 700,000 UnionPay Commerical Cards have been issued in 13 nations outside mainland China including Portugal, Russia, and Kenya, with 100,000 issued in the past year alone.
In addition to simplified cross-border corporate payment solutions, UPI provides business owners with instant access to payment data via the UnionPay Commercial Card Data Management Platform and Commercial Card Control Platform. These digital platforms are designed to give companies greater transparency and valuable insights into company spending to facilitate efficient management of business expenses. Commercial cardholders also enjoy a host of exclusive benefits such as hotel booking services and access to airport lounges.
E-wallet payment support and added benefits for CIIE attendees
In addition to using their UnionPay card for transactions within mainland China, attendees and exhibitors can also take advantage of UnionPay's seamless mobile payment service using local e-wallet solutions. With 21 e-wallets developed or upgraded with UnionPay technologies already launched in 12 markets in Northeast Asia, Southeast Asia, Central Asia and the Middle East, users of these e-wallets can enjoy a convenient way to conduct cardless payments within mainland China via a virtual QR code on their smartphone, which allows them to quickly scan and pay at over 16 million merchants nationwide. In 2019, UnionPay reported an eightfold increase in the number of transactions made in mainland China using UnionPay QR codes from overseas e-wallets.
During the CIIE, international UnionPay cardholders will receive exclusive discounts at restaurants, hoteliers and retail merchants in Shanghai. Cardholders enjoy a discount of up to 20% at renowned restaurants in Shanghai, including Eileen, Cui Yuan, and Da Long Yi Hot Pot. Expo attendees also benefit from a tax rebate of up to 9% when shopping at select merchants, which will be refunded directly to their UnionPay card upon leaving Shanghai.
About UnionPay International
UnionPay International (UPI) is a subsidiary of China UnionPay focused on the growth and support of UnionPay's global business. In partnership with more than 2,000 institutions worldwide, UnionPay International has enabled card acceptance in 177 countries and regions with issuance in 58 countries and regions. UnionPay International provides high quality, cost-effective and secure cross-border payment services to the world's most extensive cardholder base and ensures convenient local services to a growing number of global UnionPay cardholders and merchants. For more information, please visit www.unionpayintl.com/en.
