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April 29, 2019

3C Payment and UnionPay agree expansion deal

By Patrick Brusnahan

Payment service provider 3C Payment and UnionPay have announced a partnership to expand UnionPay acceptance in Europe.

UnionPay has the world’s largest issued card base and has seen its transaction volume in Europe increase over the last year.

Its long term strategy has been to increase the number of merchants in Europe accepting UnionPay cards. This is also designed to help meet the requirements of Chinese outbound tourists visiting Europe.

Wei Zhihong, UnionPay International’s Market Director and Head of its European Branch, said: “The last twelve months have seen significant progress for UnionPay in Europe in both transaction volumes and acceptance and we are delighted to be building on this success with a new partnership with 3C Payment. We have the largest card base in the world and we want to ensure that both European merchants and card issuers are able to benefit from our scale and the innovations we offer.”

Damien Estrade Head of Strategic Partners Management of 3C Payment, said: “Through this strategic partnership with the major card scheme, 3C Payment is recognised as a key Payment Service Provider in the global market. We are proud to accompany UnionPay in their European expansion and allow our customers to enable payment with UnionPay brands.”

“This new partnership represents a significant opportunity for the merchants to offer multiple payment options and to attract many millions of UnionPay cardholders, whether they are based in Europe or visiting from overseas,” concluded Damien Estrade.

Barclaycard announced a new card acceptance partnership with UnionPay International in March of this year to bring more acceptance in the UK.

This partnership will allow the 110,000 Barclaycard UK merchants to accept UnionPay. The phased roll out will begin this summer.

Chinese tourists flood the UK every year. Therefore this partnership will boost the availability of the preferred payment brand for many Chinese consumers.

UnionPay is also looking to gain more acceptance in Latin America. It partnered with Antigua and Barbuda-based NIBank for the issuance of cards in Latin American countries.

As per the agreement, NIBank will develop new payment platforms, including prepaid cards, under the UnionPay brand in Latin America.

The agreement gives NIBank right to develop both physical and digital payment mechanisms.

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