Spain’s largest bankcard transaction switching network ServiRed and its member Bankia have inked a deal with China’s UnionPay International to enable the acceptance of UnionPay cards by all the ATMs and merchants under Bankia.
UnionPay International also signed a merchant expansion agreement with Universalpay, agreeing to launch UnionPay card acceptance by all the merchants under Universalpay.
According to the agreements, both Bankia and Universalpay will launch UnionPay card acceptance by all their merchants by the end of this year or early next year. By then, UnionPay cards will be accepted by 150,000 more merchants, covering airport duty free shops, shopping malls, department stores, fashion brands, hotels, restaurants and other places.
Meanwhile, Bankia will also enable UnionPay card acceptance in all its 5,500 ATMs. Currently, UnionPay cards are accepted by 50% of merchants and 70% of ATMs in Spain. The cooperation will rapidly increase the UnionPay card acceptance coverage in Spain by 10%, providing more convenient and preferential payment services to UnionPay cardholders coming to Spain for traveling and business.
In recent years, the number of Chinese tourists traveling to Spain has increased by 25% year on year. The growth rate in the first quarter of this year even reached 137%. It is predicted that a total of 1 million Chinese tourists will visit Spain in 2020. To keep up with this trend, UnionPay International is continuing to expand the local UnionPay card acceptance coverage and enhance card-using services. It has become increasingly convenient for cardholders to use UnionPay cards in other markets of Europe as UnionPay card services have been enabled in 38 countries and regions in Europe, with almost all the ATMs in Britain, Switzerland and Austria accepting UnionPay cards.
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