The acceptance of plastic cards issued by China UnionPay, a Chinese card company, is now available in K&H’s physical POS terminal network. UnionPay, one of the world’s largest card issuers, is primarily China’s most popular debit card, used by more than 2 billion people in Asia.
Since the number of Chinese tourists visiting Europe grows dynamically year on year, the number of merchants accepting UnionPay cards is also increasing heavily, which can have a positive impact on the turnover and customer satisfaction of the merchants concerned.
benefits of using UnionPay cards in Europe for merchants and card acquirers:
- with the UnionPay Quickpass contactless payment, transactions can be executed quickly
- the settlement of transactions starts within a maximum of 1 (one) banking day from the date of receipt of the transaction
- merchants and card acquirers can increase their customer base and business turnover by providing card payments to Chinese tourists
benefits of using UnionPay cards in Europe for cardholders:cost-effective
- a foreign currency transaction is settled in RMB (Chinese Yuan), without any currency conversion fee
- a wide range of additional, favourable offers are available with the cards throughout the year (discounts on shopping, accommodation, restaurants, entertainment services)
- UnionPay cardholders can claim tax refunds on their purchases online in China
convenient
- usable in any acceptance network with the UnionPay logo worldwide
- customer support is available in Chinese in many countries and regions
secure
- with card payments, cardholders can reduce the cost and risk of carrying cash while increasing their personal and financial security
- PIN-based authentication makes the transactions more secure
UnionPay card acceptance is automatically available to all our existing and new customers who already have or contract in the future for a physical POS terminal.
about UnionPay
UnionPay was founded in 2002 and for a long time, enjoyed a near monopoly in China, issuing more than 6 billion bank cards – more than Visa and Mastercard combined. UnionPay started its global business development in 2004. Today, its in-store physical POS acceptance network covers 180 countries and regions, more than half of which support UnionPay mobile payment services. Online card acceptance has been authorised in more than 180 countries and regions. With the expansion of UnionPay’s global reach, nearly 180 million cards have been issued in 75 markets outside mainland China and more than 130 UnionPay e-wallets have been launched.
For more details, please visit the UnionPay website.