China UnionPay is make a big move to assist Chinese students who study overseas are going abroad and over 2,000 educational institutions outside mainland China accept UnionPay cards for tuition payment, and UnionPay payment service system has covered all aspects of students’ daily study and life in major destinations. Now, 18 million merchants and 1.3…
New research shows 90 million outbound trips will be made by Chinese residents in 2020, representing an impressive average growth rate of 13% per annum over the past two decades. By 2030, this number is expected to reach almost 126 million, making China the largest outbound market overtaking the US, Germany, and the UK. Market…
The Chinese payment cards market grew at a CAGR of 18.2% during the period 2012-2014 and is expected to grow at a CAGR of 4.9% over the period 2015-2020. The total number of cards in circulation reached 4,949.2 million by the end of 2014, whereas the total population of the country reached 1.3 billion; representing…
On again, off again, but now UnionPay has buddied up to bring Apple Pay into China. In a few months China UnionPay cardholders will be able to add their bank cards to Apple Pay on iPhone, Apple Watch and iPad.
London-based Powa Technologies has inked a 10-year strategic alliance with China UnionPay to create a ubiquitous new standard in mobile commerce for CUP’s 1.3 billion credit and debit card users.
UnionPay has launched QuickPass in Beijing with more than 20 commercial banks. Consumers can pay not only with UnionPay cards but also via its mobile solution QuickPass.
The number of Chinese consumers shopping U.S. brands online over the holiday season has increased 7 times over last year. Total sales from China-based consumers purchasing U.S. products through Alipay ePass increased 15 times versus last year.
Globally, Alternative Payment Methods (APMs) inched past card payments for the first time ever with 51% of market share.
It is also likely eWallets will overtake credit cards in the global eCommerce market by 2019.
China’s Alibaba Group has ankled two managing directors for its European expansion. Sébastien Badault is now the managing director of Alibaba Group France, and Terry von Bibra is now managing director of Alibaba Group Germany.
The Laos national bankcard payment system is up and running, one month ahead of schedule. The one-year project was handled by China UnionPay, China Development Bank and Bank of Lao P.D.R.
Bank of China has unveiled its first US-themed Great Wall Global Pass travel mate credit card for mainland China. Bank of China had issued Hong Kong-Macau-Taipei-themed, South Korea-themed, Japan-themed and Southeast Asia-themed Great Wall Global Pass travel mate credit cards.
China continues to lead the march to online and cross-border shopping habits. This year’s findings support the growth trend: 35% of online shoppers claim to have shopped cross-border in 2015, vs. 26% in 2014. China’s overall online shopping population saw modest growth (81% of online adults report having shopped online in the last 12 months in 2015, vs. 80 % in 2014)