UnionPay International has entered an agreement with Turkey-based commercial bank Yapı Kredi to enhance acceptance of its cards in the country.
Under the terms of the deal, Yapı Kredi will accept UnionPay cards at its 2,000 online and 350,000 offline merchants, and 4,000 ATMs this year. The online websites cover retail, supermarkets and travel, among others.
This is expected to bring UnionPay acceptance rate at PoS and ATMs in the country to 90% and 85%, respectively.
Currently, UnionPay card acceptance rate in Turkey is more than 75%. The cards can be additionally availed at Turkish e-visa network and for various local airlines and travel bookings.
UnionPay China chairman Ge Huayong said: “This full cooperation with Yapı Kredi in acceptance business of UnionPay cards not only enhances travel payment experience of cardholders to Turkey, but also lays the foundation for further in-depth cooperation between the two sides in issuing cards and mobile payment.”
Yapı Kredi CEO Gokhan Erun said: “In recent years, Asian merchants and businesses that have made trade, investment and travel to Turkey have increased rapidly, and UnionPay cards are their standing payment instruments.
“And they are very pleased to cooperate with UnionPay International in accepting UnionPay cards, which will also help local businesses attract more consumers and achieve all-win results.”