UnionPay

Established in 2002, UnionPay, also known as China UnionPay, CUP, or UPI, stands as the world’s largest card network with over 7 billion cards issued. Operating under the authorization of the People’s Bank of China (PBOC), the central bank of China, UnionPay serves as an association representing China’s banking card industry.

Beyond its role as an electronic funds transfer at point of sale (EFTPOS) network, UnionPay is the exclusive interbank network in China that connects all automated teller machines (ATMs) across various banks nationwide. This extensive network is widely embraced by Chinese consumers, both domestically and internationally, and its cards are accepted in 181 countries and regions globally.

In 2016, UnionPay revealed that over 2.2 million merchants across 39 European countries and regions support its payments, accounting for 50% of all merchants facilitating bankcard payments. This widespread acceptance allows businesses across diverse sectors to integrate UnionPay into their payment systems, facilitating both online and in-store transactions for their customers.

This payment method could be relevant for your business if you sell to clients in the following countries or regions:

Global