Cuallix, a credit card and prepaid card issuer in Mexico, is issuing the first UnionPay card in the market over the next three months.
China is the second largest trade partner of Mexico, and the two countries have established a comprehensive strategic partnership of cooperation.
With the enhancement of personnel exchange between China and Mexico, UnionPay’s business in Mexico has witnessed a rapid development. Now, more than 80% of ATMs and 100,000 merchants in Mexico accept UnionPay cards, covering airports, coach stations, supermarkets, shopping malls, and tourist attractions frequently visited by tourists.
In the next three years, UnionPay’s acceptance footprint will cover 100% of the local ATMs and 80% of the POS terminals. The improvement of the acceptance environment of the UnionPay card will effectively promote its issuance there.
As a major non-bank financial service institution in Mexico, Cuallix has set branches in over 60 cities in the US and Mexico.
In Mexico, Cuallix has cooperated with local teachers’ unions, district governments as well as universities, and has issued signature prepaid cards through these channels. At present, it serves 100,000 cardholders.
This deal between UnionPay International and Cuallix will enable the issuance of UnionPay prepaid cards and credit cards, which can be used in UnionPay’s global acceptance network in 157 countries and regions. These cards also support online payment.
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