国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Industries

Global role for UnionPay on the cards

By CECILY LIU (China Daily) Updated: 2015-07-06 10:07

Global role for UnionPay on the cards

China UnionPay is aiming to build a global bank card, issued and used in countries throughout the world. [Photo/China Daily]

China UnionPay is aiming to build a global bank card, issued and used in countries throughout the world.

"Our ambition is for UnionPay to serve customers worldwide," said Ge Huayong, chairman of China UnionPay and UnionPay International.

"As a young company, we're still in the process of realizing this ambition, but we are growing fast."

He was talking to the media after a speech to about 200 industry experts at the Shanghai City Campaign Forum at the Milan Expo on June 10.

During the event, he signed an agreement with Cartasi SpA, an Italian credit card issuer, a deal he said is an example of China UnionPay's international development strategy to expand its customer base through partnerships with local companies in Europe, and in the process recruit European customers.

China UnionPay was founded in 2002 to enable cross-city, inter-bank transactions on cards issued by China's commercial banks. The proportion of all card-based spending to total retail sales rose from 2.7 percent before UnionPay's inception to 47.7 percent in 2014.

The company began to expand internationally in 2004 and founded UnionPay International, which has built partnerships with more than 300 institutions worldwide. Today, the company's cards are accepted in more than 150 countries and regions, and roughly 5 billion UnionPay cards have been issued globally.

According to the company, one key market has been South Korea, where one in five people have a UnionPay card. In Pakistan and Laos, its cards have been issued to customers for many years and have become the most recognized payment card. And in the United States, more than 90 percent of ATMs and more than 80 percent of retailers accept UnionPay.

These achievements have not come easily, considering the company is up against fierce competition from Visa Inc and MasterCard Inc, Ge said.

"UnionPay International is not a truly international payment card company because overseas transactions still only account for 2 to 3 percent of our overall transactions, but we have an advantage to expand fast because the Chinese economy is growing rapidly, so we are growing fast," he said.

UnionPay International's overseas expansion strategy has two models: One focused on developing economies, the other on mature economies.

In developing economies, UnionPay International can use its expertise in the payment field to help its partners develop infrastructure, he explained. When the infrastructure is built, the company's cards can easily be used by those systems.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
微山县| 松江区| 沙坪坝区| 夹江县| 新密市| 苏尼特左旗| 江安县| 淅川县| 馆陶县| 晴隆县| 无为县| 元江| 从化市| 新巴尔虎右旗| 张家口市| 湟中县| 福安市| 新营市| 崇义县| 罗城| 芦溪县| 景宁| 萍乡市| 日喀则市| 庐江县| 道孚县| 石楼县| 新安县| 雷山县| 迁安市| 华安县| 昭平县| 贵南县| 高碑店市| 龙南县| 河池市| 南木林县| 闻喜县| 当涂县| 宁阳县| 建始县|