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.
PAX Technology announced PAX’s BroadPOS secure payment solution has been certified by First Data to accept EMV transactions using First Data’s Rapid Connect platform.
UnionPay cards have been accepted by more than 90% of ATMs and 80% of merchants in America. In addition, quite a few ATMs have Chinese interfaces for easy operation, and many merchants provide special offers for UnionPay cardholders.
The number of Chinese outbound tourists in 2014 totaled 107 million, a year-on-year growth of 19.5%, making China the largest tourist exporting country in the world for three consecutive years. This bodes well for China UnionPay which is almost exclusively rules the payment card for these tourists.
The largest telecom operator in Korea, KT, agreed last week to deepen cooperation with China’s UnionPay for mobile payment and technology exchange. The deal covers six major fields as Near Field Communication (NFC), mobile payment, online payment, cross-border remittance, electronic marketing based on smart mobile terminal, financial-technology business, and promote the comprehensive upgrading of innovative payment service via UnionPay cards in Korea.
South Korea’s Hyundai Card has inked a deal with China’s UnionPay International to issue 12 types of UnionPay card products. All major card issuers in South Korea offer UnionPay cards. BC UnionPay China Pass Debit Card is the first UnionPay card issued in South Korea.
China UnionPay has inked a deal with Simon Malls to provide its cardholders with exclusive privileges in four Premium Outlets in New York, Los Angeles, San Francisco, and Las Vegas starting today.
Chinese tourists purchasing power in South Korea has driven China UnionPay (CUP) to become the #1 foreign card brand in the country. About 90% of the spending by Chinese tourists in South Korea is through UnionPay cards.
China UnionPay International (UPI) has inked a cooperation deal with Beijing-based China International Travel Service (CITS) to offer special perks to China UnionPay cardholders traveling abroad. Under the CITS agreement cardholders who purchase the outbound travel products of CITS with a UnionPay card (with a card number starting with 62) and purchase with a UnionPay card at the designated destinations overseas during the trip can not only be exempted from the currency conversion fee equal to 1% to 2% of the transaction amount, but also receive a special reward valued up to 6% of the transaction amount.
Nedbank launched its “PocketPOS” EMV certified mobile POS solution, allowing businesses to process payment card transactions on a smartphone connected to a secure card reader. It is suitable for any business that wishes to accept card payments securely without access to a fixed data or telephone line or where low frequency of card acceptance does not warrant the higher rental cost of a traditional POS device. PocketPOS is designed to operate where EMV ‘CHIP & PIN’ technology has been mandated, and uses a certified secure card reader and advanced encryption to capture and protect the card data and PIN. The “PocketPOS” solution is available as a small device with a secure PIN pad that requires the merchant to capture an email address into the smartphone application or as an alternative device with the ability to print out a physical receipt, much like in the case of a traditional POS.
Ingenico payment solutions and Dirk Rossmann drugstore chain is extending its cooperation with easycash of Ingenico. With this, Dirk Rossmann will implement the e-money institution for card acceptance services for OLV (online direct debit), MasterCard and Visa acquiring, as well as the processing of American Express transactions. Rossmann is using this new payment strategy with all services from one single source to extend and consolidate the range of card-based payment methods available at its store. Rossmann customers will now have the option of signature-based payment for their purchases as the company introduces easycash’s secure OLV acquiring alongside girocard debit card payments.
The Secure Remote Payment Council (SRPc) formed a working group to define and adopt a POS and ATM solution for chip and PIN acceptance for PIN debit networks. This will provide interoperable adoption of chip and PIN debit payments to the industry, while supporting innovation, choice, and the proven track record of PIN security in reducing payment fraud. The working group includes leading PIN debit networks STAR®, SHAZAM®, PULSE®, NYCE®, AFFN®, ACCEL/Exchange®, ATH®, Credit Union 24®, CO-OP Financial Services® and Jeanie®.