UnionPay International has signed a memorandum of understanding (MoU) with the Bulgarian National Card Scheme for the acceptance of its cards at point-of-sale (PoS) and ATM terminals in the country.
The agreement covers both UnionPay chip cards and contactless payment service.
The partners also intend to potentially collaborate for issuance of UnionPay-Bcard co-branded cards in Bulgaria. Bcard is the national payment card of Bulgaria and accepted at all possible locations across the country.
As part of the collaboration, UnionPay aims to gain comprehensive acceptance in Bulgaria within a feasible duration.
The alliance is also intended to allow UnionPay cardholders visiting Bulgaria to pay and withdraw cash using their cards and to activate the company’s mobile QuickPass service for tap-and-go payments in the future.
In addition, the cooperation may be leveraged to expand the Bcard cards from Bulgaria to 169 countries and regions under the UnionPay acceptance network.
Furthermore, UnionPay and the Bulgarian National Card Scheme may collaborate to promote innovative products such as online payment, QR code payment and e-wallet products.
“UnionPay International management introduced that the company attaches great importance to the Central and Eastern European (CEE) region. UnionPay actively participates in the infrastructure construction of payment industry in the region, to promote technical standards cooperation and realise the interconnection and upgrading of payment networks,” UnionPay said in a statement.