UnionPay has inked a cooperation deal with MINT of UAE to issue the first UnionPay chip card in the country, This will also be the first time a UnionPay-branded payroll card is issued in UAE.
The two companies have agreed to issue 400,000 UnionPay cards in three years for the purpose of delivering secure, convenient and cost-effective payment services to the people in UAE.
As an important payroll service provider and prepaid card issuer in UAE, MINT has issued over 400,000 payroll cards. Through its cooperation with UnionPay, the company will not only convert existing cards into UnionPay cards progressively, but will also issue new UnionPay cards. Those cards will all be international payment cards accepted in UnionPay’s global network, including in UAE.
MINT has chosen to issue UnionPay-branded payroll cards because UnionPay’s acceptance in the country is expanding rapidly. All POS terminals in the country accept UnionPay cards, local merchants are launching special offers and value-added privileges for UnionPay cardholders, and ATM acceptance coverage is nearing 100%.
In addition, MINT also values UnionPay’s capability to offer secure payment through its chip cards. The cooperation between the two companies will provide a good demonstration for other mainstream financial institutions in the Middle East.
UnionPay chip cards are financial IC cards in conformity with international EMV standards. They have multi security protection layers which can effectively prevent skimming, false cards, and unauthorized transactions. Up to now, more than 2 billion UnionPay chip cards have been issued globally, and UnionPay is working on chip migration and innovative solutions based on chip cards.
In the Middle East, UnionPay now has presence in 11 countries. UnionPay International is strengthening its cooperation with mainstream financial institutions in the region to expand its acceptance footprint, increase card volume, and make breakthroughs in online payment and mobile payment. Its acceptance in UAE is good, and in Qatar UnionPay cards are accepted by over half of the POS terminals and nearly 40% of the ATMs, covering department stores, duty-free stores, hotels, restaurants and other places frequently visited by tourists.
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