China UnionPay Card
Overview
UnionPay has become the central and pivotal part of China’s bankcard industry, and plays an essential role in the industry development. As the bankcard association in China, UnionPay operates an inter-bank transaction settlement system through which the connection and switch between banking systems and the inter-bank, cross-region and cross-border usages of bank cards issued by associate banks could be realised. Based on the system construction and operation as well as the bankcard network, UnionPay actively collaborates with various industrial parties like commercial banks. This is done in an effort to formulate and extend united UnionPay card standards and regulations, create an independent bankcard brand, promote the development and application of the bankcard, maintain an orderly bankcard acceptance market and prevent bankcard risk.
UnionPay has become the central and pivotal part of China’s bankcard industry, and plays an essential role in the industry development. As the bankcard association in China, UnionPay operates an inter-bank transaction settlement system through which the connection and switch between banking systems and the inter-bank, cross-region and cross-border usages of bank cards issued by associate banks could be realised. Based on the system construction and operation as well as the bankcard network, UnionPay actively collaborates with various industrial parties like commercial banks. This is done in an effort to formulate and extend united UnionPay card standards and regulations, create an independent bankcard brand, promote the development and application of the bankcard, maintain an orderly bankcard acceptance market and prevent bankcard risk.
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