- UnionPay International confirms that it has issued 200 million cards outside the Chinese mainland.
- Just under 40 million merchants across the world now take UnionPay cards, which represents an increase of around four times since 2012.
- "Presently, outside the Chinese mainland, 38 million global merchants accept UnionPay cards, a four-fold increase since 2012, with four million new merchants added in 2022 alone,” the firm added.
UnionPay, a provider of fast money transfer and bank card services, has announced that it has issued 200 million cards, a key milestone beyond the realms of its usual market.
The company said it had invested significantly in its technology offer over recent decades and would look to enhance its range of services further in the coming years.
Just under 40 million merchants now take UnionPay cards, which represents an increase of around four times since 2012, the firm confirmed in a press release.
It also confirmed that transaction rates since this milestone had been higher than before the coronavirus pandemic.
In a press statement, the firm said that the technology it had used had been “ceaselessly” put into motion.
“Over the past decade, UPI has ceaselessly developed cutting-edge payment technology to share a brand-new cross-border payment experience with UnionPay cardholders in every corner of the globe,” it said.
It said that 2022 was a strong year for the firm regarding how many new merchants it attracted.
"Presently, outside the Chinese Mainland, 38 million global merchants accept UnionPay cards, a four-fold increase since 2012, with four million new merchants added in 2022 alone,” it explained.
And it also said that acceptance rates within particular regions of the world were at four-fifths or higher at the present time.
“UnionPay card acceptance rates in APAC, Europe and North America have reached 95%, 80% and 80%, respectively, while 22 million online merchants in 200 countries and regions now use UnionPay for payments,” the press statement said.
In further remarks, the firm said that products had been enhanced during the last decade. It also pointed out that the customer demand landscape was changing significantly and that people who make online payments globally were beginning to want different things.
“During these 10 years, the digital transformation of the global payments industry has developed rapidly, and UPI has accelerated product iterations and service upgrades to meet the ever-changing payment habits of international customers,” it said.
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