What is UnionPay payment?

UnionPay (also known as China UnionPay, CUP or UPI) is the world’s biggest card network with more than 7 billion cards issued. It is widely used by Chinese shoppers internationally as well as domestically.

Where is UnionPay accepted in Pakistan?

The Faysal UnionPay Debit Card is accepted at over 14000 ATMs and over 50,000 Point of Sale (POS) locations nationwide. Your Faysal UnionPay Debit Card can also be used at any merchant location within Pakistan wherever the logo is displayed.

Is UnionPay accepted in Pakistan?

HBL UnionPay DebitCard is accepted at over 50,000 merchants in Pakistan and millions of merchants worldwide. With acceptance in over 125 countries, you can enjoy a world of benefits with Faysal UnionPay Debit Card.

How does UnionPay work in China?

UnionPay is the national bankcard association in China and is thought to be the fastest growing card scheme in the world. To use it, your shoppers need one of the following: A UnionPay issued debit card. A bank account linked to the shopper’s UnionPay issued debit card or credit card.

How do I pay my UnionPay?

UnionPay Online Payment Method

Step 1: Choose Payment Method. Under Payment Options, select UnionPay Cards as your preferred method.
Step 2: Terms and Conditions.
Step 3: China UnionPay Redirect.
Step 4: Fill up the online form with your card details.

Is UnionPay bigger than Visa?

In 2015 the UnionPay overtook Visa and Mastercard in a total amount of value of payment transactions made by customers and became the largest card payment processing organization (debit and credit cards combined) in the world surpassing the two. However, only 0.5% of this payment volume was outside of China.

How UnionPay works in Pakistan?

The dual payments function of UnionPay’s mobile payment products adds QR code-based payment onto contactless payment, and can be applied to any NFC-enabled smartphone. With this function, users only need to link their card to their mobile phone once, and then access multiple mobile payment methods.

Can I pay internationally with UnionPay?

UnionPay Debit card is your ideal choice, when you travel abroad, or purchase online from around the world, and at the same time you have a choice to pay with your own funds, directly from your own bank accounts.

Where is UnionPay accepted online?

At present, more than 10 million overseas online merchants accept UnionPay Online Payment. These merchants are based in 200 countries and regions, including Hong Kong, Macau, Europe, the US, Japan, South Korea, covering fields of retail, online travel booking, tuition payment, airline reservation etc..

What card is UnionPay?

Is UnionPay a scheme?

UnionPay is the national bank card network in China and currently the largest card scheme in the world by number of cards issued. This makes UnionPay an essential payment method for every company that wants to conquer the Chinese market with their products or services.

Is UnionPay accepted in China?

Use abroad UnionPay cards can be used in 180 countries and regions around the world. The two companies have signed a long-term agreement that allows acceptance of Discover Network brand cards at UnionPay ATMs and point-of-sale terminals in China and acceptance of China UnionPay cards on the PULSE network in the U.S.

Where is the headquarters of UnionPay in China?

UnionPay ( Chinese: 银联; pinyin: Yínlián ), also known as China UnionPay ( Chinese: 中国银联; pinyin: Zhōngguó Yínlián) or by its abbreviation, CUP or UPI internationally, is a Chinese financial services corporation headquartered in Shanghai, China. It provides bank card services and a major card scheme in mainland China.

How many banks in China issue UnionPay cards?

UnionPay is the primary network of these Chinese banks: Other UnionPay-affiliated organisations include municipal commercial banks as well as rural credit cooperatives. Overall, there are 165 financial institutions that issue UnionPay cards.

Where can I use my UnionPay debit card?

UnionPay debit cards, however, can only be used in the UnionPay network and other networks that have signed contracts with UnionPay. Since 2006, China UnionPay cards can be used in over 100 countries outside China.

Is there a cap on UnionPay withdrawals in China?

In 2015, China’s State Administration of Foreign Exchange (SAFE) placed a ¥100,000 annual cap on overseas cash withdrawals from Chinese banks-issued UnionPay accounts. In November 2017, Azoya teamed up with UnionPay to enable consumers in China to profit from the Black Friday online shopping festival via a cross-border marketing platform.