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UPI Partners with World’s Largest Acquirer Fiserv to Accelerate Business Localization

UnionPay International (UPI) announced today its partnership with Fiserv, a global provider of payments and financial services technology and the world’s largest acquirer,to enable the support of UnionPay card products on its card issuing platforms. Issuers in Asia and Europe will be able to roll out UnionPay cards in an efficient and cost-effective manner. The implementation for UnionPay online payment will also be completed soon on Fiserv’s global e-commerce merchant platform, optimizing the online acceptance for UnionPay cards.

UnionPay started its global business development in 2004. Currently, its in-store acceptance network has been extended to 180 countries and regions, more than half of which support UnionPay mobile payment services. Its online acceptance has been enabled in more than 200 countries and regions. Nearly 180 million cards have been issued in 75 markets outside the Chinese mainland and more than 130 UnionPay-powered e-wallet implemented, as UnionPay extends its global reach. In particular, full card acceptance has been enabled for some markets along the Belt and Road and the Guangdong-Hong Kong-Macao Greater Bay Area, making UnionPay cards the preferred payment tool for residents in some countries and regions.

Mr. Li Xiaofeng, CEO of UPI, said that the cooperation with Fiserv is an important step for UPI to innovate its business development model and build a global network and an international brand. With Fiserv’s technical platforms, UnionPay has improved its service capabilities for partners outside the Chinese mainland, which will help to further optimize online and in-store acceptance, accelerate business localization, and improve the planning for business around the world. Going forward, the two parties will deepen the cooperation in card issuance and global acceptance, and strengthen the communication with major organizations that have been enabled on Fiserv to facilitate the launch of more business.

The collaboration will allow physical and virtual UnionPay cards to be issued on Fiserv’s platforms, which makes system modification much faster and cheaper for partners in areas including Europe, Southeast Asia, South Pacific when issuing UnionPay cards. Besides, online merchants in North America, Europe, and Asia Pacific can easily enable UnionPay acceptance for all their sites by accessing the UnionPay online payment API on Fiserv’s merchant platform. Fiserv will work with UnionPay for more major e-commerce retailers on the platform to take UnionPay cards.

Ms. Suzan Kereere, Head of Global Business Solutions at Fiserv, said that payment experience is crucial for consumers. This collaboration will optimize the acceptance cooperation model and help more merchants to support UnionPay cards, providing consumers with more payment choices and boosting transaction volume.