View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
  2. Company news
November 30, 2018

UnionPay acceptance debuts in Montenegro with Atlas Bank tie-up

UnionPay International has teamed up with Montenegro’s Atlas Bank to enable acceptance of UnionPay cards at the bank’s POS and ATM terminals.

The move marks the start of acceptance of UnionPay in the country, and extends UnionPay’s global acceptance network to 171 countries.

“With the continuous deepening of the China-Central and Eastern Europe Cooperation Mechanism (“16+1 cooperation”) and the implementation of the “Belt and Road Initiative”, the ties between China and Montenegro become closer,” UnionPay said.

Through the alliance, POS terminals of hotels, restaurants, car rentals and travel agencies in major Montenegro cities will be able to accept UnionPay cards.

Besides, users of UnionPay card can withdraw cash from the Atlas Bank’s ATM terminals.

The two parties intend to gradually roll out the UnionPay Online Payment service in Montenegro and EU countries. At the same time, plans are on to introduce UnionPay e-wallet products.

In announcing the tie-up, UnionPay cited data from the Montenegro Tourism Bureau that revealed that the number of Chinese tourists to Montenegro more than doubled in 2017 compared to the year before.

“In line with this trend, with the support of the Central Bank of Montenegro, UnionPay International actively carries out collaboration with mainstream institutions in Montenegro to improve the acceptance environment of UnionPay cards in the country,” UnionPay noted.

In Europe, over 3.3 million merchants across 40 countries currently accept UnionPay.

 

Topics in this article: ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International