Taiwan’s Taishin Bank has signed an agreement with UnionPay International, which will enable all the bank’s merchants to accept UnionPay cards by the end of 2016.

Some of the bank’s merchants have already been allowed to accept UnionPay cards before such cooperation.

The new deal strengthens cooperation between the two parties for continuously expanding the acceptance scope of UnionPay cards, expanding channel construction of innovation payment as well as further optimising the card using experience of cardholders.

The partnership will enable department stores, chain convenient stores, supermarkets, chain apparel shops, restaurants and other merchants of daily purchase in Taiwan to accept UnionPay QuickPass.

Following the latest deal, the acceptance scope of local merchants accepting UnionPay cards will increase to 85%.

According to Taishin Financial Holdings CEO Shang Ruiqiang, the bank aims to accelerate its cooperation with UnionPay International in other areas including innovative payment and service improvement.

In the future, the bank intends to expand traditional UnionPay card acceptance business, cooperate in the field of mobile payment and apply UnionPay QuickPass for mPOS mobile payment, Ruiqiang added.