TX-based Pivotal Payments has been accepted as a Principal Member of UnionPay International, a subsidiary of China UnionPay, the largest card issuer in the world. The partnership offers Pivotal’s merchants more payment options with the ability to target the world’s biggest online retail markets and the fastest growing payment scheme globally.
With over 150 million UnionPay internet and mobile payment users, being able to service UnionPay cardholders presents a significant added revenue stream for Pivotal’s merchants. Valued in excess of US$500 billion, the growth volume of ecommerce transactions in China is expected to surpass that of the US this year. Led by the rise of inexpensive mobile devices, the number of Chinese consumers shopping online is rapidly increasing, with a recent estimate pegging Chinese online spending reaching one trillion dollars by 2019.
Pivotal Payments will provide a full-service implementation of UnionPay, including rapid boarding, streamlined risk and underwriting, full online reporting and dedicated support.
Pivotal Payments is a leading provider of technology-driven global payment processing solutions to the point of sale, B2B and ecommerce industries. Our proprietary solutions include card not present, integrated POS and mobile payments that deliver efficiency and profitability to businesses across all sales channels and platforms. With a focus on security and fueled by continuous investment in research, product development and innovation, we are shaping the future of payments.
UnionPay International (UPI) is a subsidiary of China UnionPay focused on the growth and support of UnionPay’s global business. In partnership with more than 300 institutions worldwide, UnionPay International has enabled card acceptance in over 140 countries with issuance in more than 30 countries.
For data, background and forecasts on UnionPay: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items)