SHANGHAI, China, May 17, 2016 /Xinhua-AsiaNet/– With UnionPay’s rapid expansion overseas, especially the implementation of its localization strategy, UnionPay cards are frequently used by an increasing number of overseas cardholders. It is learnt on May 9 that, by the end of the first quarter of 2016, the transaction volume of overseas-issued UnionPay cards accounted for about half of UnionPay’s total international business; this figure by the end of 2013 was only 27%. The transaction number of overseas-issued UnionPay cards in the Chinese mainland increased by over 30% year on year.
To date, over 55 million UnionPay cards have been issued in 40 countries and regions overseas. Hong Kong, Macau, Japan, South Korea, Southeast Asia, and markets along the “One Belt and One Road” are major overseas regions in terms of UnionPay card-issuance. These markets are also the major sources of China’s inbound tourists, according to National Tourism Administration.
UnionPay International is enriching its services and privileges for overseas cardholders: First, it improves its acceptance environment in overseas markets and enlarges card-issuance scales. Second, it has constructed featured business areas in various domestic cities and optimized frontier trade settlement
services. Third, it has provided exclusive privileges and offers for overseas-issued UnionPay cards. For instance, it offers VIP service at 10 Chinese Visa Application Service Centers in South Korea, Singapore and Australia.
Cai Jianbo, CEO of UnionPay International, said, “With UnionPay’s vision of building a ‘global network and international brand’, we keep improving our overseas acceptance network and service system, not only providing payment convenience for the Chinese to ‘go abroad’ but also paying more attention to
overseas consumers. UnionPay International will expand its overseas card-issuance and develop tailored card products and services, to attract more overseas customers to China, and to offer bidirectional support for the exchanges and cooperation between China and other regions.”
UnionPay cards are popular in Hong Kong, South Korea, Singapore, Pakistan, Russia and Kazakhstan. In the first quarter, overseas cardholders’ spending in Mainland China has increased remarkably. The transaction volume of Singapore-issued UnionPay cards in China has increased for almost 3 times, and the growth rate of that of UnionPay cards issued in Laos, Cambodia and Australia all doubled.
From today to October 31, China Duty Free stores at eight airports in Guangzhou, Hangzhou, Kunming, Shenyang, Nanjing, Xiamen, Qingdao and Changsha offer 10%-off discount for overseas-issued UnionPay cards with other privileges.
Now, UnionPay card products and services are recognized by an increasing number of overseas customers. In the first quarter, the transaction volume of South Korea-issued UnionPay cards in Japan and the US has increased over two times, and that of UnionPay cards issued in countries along the “One Belt and One Road” (Russia, Pakistan, and Mauritius, etc.) in other regions has more than doubled.
For more information: http://www.unionpayintl.com/
Source: UnionPay International