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December 29, 2014

UnionPay partners with CAC to issue payment cards in Yemen

UnionPay International, a subsidiary of China UnionPay, has signed an agreement with the Cooperative and Agriculture Credit Bank of Yemen (CAC) to issue UnionPay card in Yemen enabling local merchants to accept UnionPay cards.

By Verdict Staff

UnionPay International, a subsidiary of China UnionPay, has signed an agreement with the Cooperative and Agriculture Credit Bank of Yemen (CAC) to issue UnionPay card in Yemen enabling local merchants to accept UnionPay cards.

The agreement with CAC that possesses outlets dispersed throughout Yemen will facilitate acceptance of UnionPay cards by the bank’s major ATMs and merchants increasing the UnionPay card acceptance coverage to about 50% on the Yemeni market.

The card will provide convenient payment services to local cardholders through UnionPay’s global acceptance network to meet the demand of business travel and trade exchanges with the Middle East and Asia.

UnionPay International CEO Cai Jianbo said: "In the future, UnionPay International will work with CAC’s local resources of network and customer base to deepen the two sides’ cooperation in card acceptance and issuance in a bid to provide better services to visitors and local residents."

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