China’s UnionPay has been active in the construction of a bankcard switch network in Laos and Thailand, and will now participate in building a payment network in Tajikistan.
In Tajikistan, UnionPay cards can be used at some ATMs and merchants. Over the past few years, the National Bank of Tajikistan has made unremitting efforts to promote e-payments. The local banks also have great demands for bankcard cross-border switch, local card issuance and innovative payment. All parties intend to improve the country’s financial infrastructure by upgrading the bankcard switch network. With the support of the National Bank, UnionPay International inked a MOU on the construction of the local switch network with Spitamen, Eskhata and IBT, and the parties will jointly accelerate the implementation of the cooperation project.
In November 2015, UnionPay assisted Laos in successfully building its national bankcard payment system. In February 2016, UnionPay International formed a joint venture with major banks in Thailand to establish the Thai Payment Network (TPN), based on which Thailand then created its own debit card brand, TPN. In addition, UnionPay International is taking active part in the payment industry infrastructure construction in countries where condition allows, paying special attention to markets along the Belt and Road.
President of China UnionPay Shi Wenchao met with President of National Bank of Tajikistan Jamshed Nurmakhmadzoda in Dushanbe to seal the deal.
