UnionPay International has entered into a cooperation agreement with Spanish payment gateway ServiRed and its member Bankia, to start accepting UnionPay cards at all the ATMs and merchants under Bankia.
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Additionally, UnionPay has also inked a merchant expansion agreement with Universalpay to accelerate UnionPay card acceptance by all the merchants.
As part of the agreements, Bankia and Universalpay will enable UnionPay card acceptance by all their merchants by the end of this year or early next year.
Following the deal, UnionPay cards will be accepted by 150,000 more merchants in Spain including airport duty free shops, shopping malls, department stores, fashion brands, hotels, restaurants and other places.
The agreement will see the addition of Bankia’s 5,500 ATMs in Spain to the UnionPay acceptance network.
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By GlobalDataThe partnership aims to rapidly boost the UnionPay card acceptance coverage in Spain by 10%, offering more convenient and preferential payment services to UnionPay cardholders coming to Spain.
China UnionPay President Shi Wenchao said the deal with Spanish institutions will help integrate resources from all sides and jointly strengthen the UnionPay card acceptance coverage in Spain.
UnionPay expects its cards to be accepted by all merchants and ATMs in Spain in the near future. UnionPay cards are now accepted by 50% of merchants and 70% of ATMs in Spain.
