China UnionPay (CUP), Cathay United Bank (CUB) and other institutions are going full throttle to expand EMV card acceptance at ATMS throughout Taiwan. POS terminal upgrades to EMV will likely reach 80% of merchants by the end of this year.
About 165 branches of Cathay United Bank, all lines of Taipei Metro, 101 branches of Taishin Bank, and more than 2,000 FamilyMart convenience stores all have launched the UnionPay chip card-based ATM upgrading, and more local institutions will gradually launch UnionPay chip card acceptance in their ATMs. Currently, UnionPay cards are accepted in over 90% of ATMs in Taiwan, providing cash withdrawal convenience to the relatives of Taiwan businessmen, overseas students in Taiwan, and tourists from the mainland who love visiting the local night markets and small restaurants.
In the meantime, UnionPay International will continue to accelerate the POS terminal upgrading for chip card acceptance in the Taiwan market this year. Since October 2013, the upgrading of POS terminals has been completed in major local department stores, restaurants, specialty stores and scenic spots. Now, UnionPay cards are accepted in over 70% of merchants in Taiwan. It is expected that UnionPay chip card will be accepted in 80% of these merchants by the end of this year.
With the upgrading of the global bank card industry and increase in chip card issuance, UnionPay International continues to push forward the chip acceptance upgrading of its overseas card acceptance network, and promote the use of chip cards featuring multiple safety guarantees, high reproduction difficulty, etc., so as to protect cardholders’ account information and effectively enhance card using safety. Currently, a total of more than 1 billion UnionPay chip cards have been issued across the world, with Quickpass and other chip card-based innovative applications being constantly enriched. UnionPay chip cards have become the first choice of more and more cardholders.
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