UnionPay, also known as China UnionPay (CUP), is a financial services provider and payment platform established in China in 2002. It provides services for mobile and online payments, as well as prepaid, debit and credit cards. Through UnionPay International, a CUP subsidiary, UnionPay has expanded globally by enabling international acceptance of its cards and facilitating cross-border transactions. The company has issued over 260 million cards outside of mainland China, and its cards are now accepted in over 183 countries and regions.
If you’re selling consumer products, digital goods, or business-to-business (B2B) solutions to companies in China, consider integrating UnionPay into your payment gateway for a convenient and reliable way to receive payments. This guide provides an overview of UnionPay — its features, benefits, and usage for merchants and consumers.
UnionPay’s solutions fall under three categories: mobile payments, cards, and services.
Despite having the majority of its consumer base in China, UnionPay has built a strong global presence through partnerships. For instance, UnionPay International works with partners outside the Chinese mainland to help local wallets adopt UnionPay standards. This allows UnionPay cardholders to make QR code payments at nearly 6.7 million merchants — including restaurants, retail shops, campuses,and healthcare facilities — across 45 countries.
UnionPay Mobile QuickPass allows merchants to accept near-field communication (NFC) contactless payment, QR payment, and online payment on mobile devices, such as cell phones and smartwatches. Consumers can hold their phones or smartwatches close to a point-of-sale (POS) terminal, then authenticate the transaction through fingerprint or facial recognition. The process is quick and smooth — no need to open an app on your phone to make a payment. Various pay products in China accept payments through UnionPay Mobile QuickPass. Outside the Chinese mainland, Huawei phones, iPhones, and Apple Watches are also supported.
UnionPay cards can also be used for tap-and-go Mobile QuickPass payments — meaning merchants around the world that accept UnionPay cards are typically able to accept Mobile QuickPass transactions too.
The UnionPay app lets users link bank accounts and make payments by scanning or generating QR codes. Consumers can use the app wherever UnionPay QR payments are accepted. This means 30 million merchants in the Chinese mainland, as well as over 8 million merchants in 46 countries and regions outside the mainland.
Whether online or in-store, UnionPay QR codes can be used to make person-to-person, person-to-merchant, and merchant-to-merchant payments. Both consumers and merchants can generate and scan QR codes. UnionPay also develops QR codes for particular scenarios, such as for use as mobile transport passes.
With QR codes’ usefulness for quick, small purchases, this feature is widely supported by livelihood consumer merchants across China— informal or small-scale businesses that sell consumer goods and whose owners depend on the shop for their livelihood.
UnionPay issues prepaid, debit and credit cards for both individuals and businesses. They are accepted for various purposes, including paying tuition fees in more than 5,000 overseas schools, shopping at retailers, and dining at restaurants. The platform also supports signature acceptance merchants, ensuring flexibility in payment methods.
Through UnionPay International, the company also teams up with local banks in different countries to offer UnionPay cards. For example, Philippines-based BDO Unibank offers BDO UnionPay credit cards, while Singapore-based DBS Bank offers the UnionPay Multi-Currency Diamond debit card that supports direct payments in 14 currencies without charging conversion fees. UnionPay also offers co-branded cards with Visa, Mastercard, American Express, and JCB, among others.
The company also offers themed cards, such as commercial cards for countries and regions along the Belt and Road, and a “Tour South Korea” prepaid card that automatically converts purchases made by Chinese travellers in Korea into RMB without charging a conversion fee.
More than 60 apps and platforms in China accept UnionPay cards issued outside the mainland. This means a person holding a UnionPay card issued in Mexico, for example, can directly pay for transactions on apps when travelling in China. This includes major apps like the e-commerce platform JD.com, super app Meituan, online pharmacy Dingdang Kuaiyao, and ride-hailing service Didachuxing.
UnionPay is accepted by millions of merchants worldwide, making it a great payment solution for travellers. Its credit card can be used in credit card-dominant countries like Hong Kong. Meanwhile, its app is integrated with other mobile wallet partners like Thailand’s PromptPay, making payments between China and Thailand smoother. UnionPay transactions can be completed securely in various currencies, facilitating international commerce and travel.
UnionPay uses advanced security measures to protect issued UnionPay accounts and transactions. Whether you’re using contactless, QR codes, or traditional card methods, your payment information is encrypted for safety.
UnionPay provides flexible payment methods such as QR code scanning, credit card payments, and contactless transactions, catering to both modern and traditional payment preferences. The UnionPay mobile app supports these QR payments and has over 240 million registered users and 50 million monthly active users.
UnionPay works with a diverse range of merchants, from livelihood consumer merchants to signature acceptance merchants, ensuring wide usability of its cards. The UnionPay decal at merchant locations signifies compatibility, making it easy for consumers to identify where they can use UnionPay cards.
By partnering with UnionPay, businesses gain access to the vast network of Chinese and international users who rely on UnionPay for their transactions. This is especially beneficial for businesses targeting tourists or operating in regions frequented by UnionPay users. UnionPay International Powers provides merchants with marketing support and tools to enhance their appeal to UnionPay cardholders.
UnionPay also offers solutions specifically designed for business growth:
For physical stores, use your UnionPay card at point-of-sale terminals, ensuring the merchant displays the UnionPay decal. Cards can also be used for contactless payments, providing a quick and secure checkout experience.
UnionPay cards can be used to shop on international e-commerce websites that support UnionPay payments. Enter your card details, verify the transaction, and enjoy the secure process.
For merchants supporting UnionPay QR, simply scan the QR code with your phone using your UnionPay card-linked app to pay directly.
UnionPay is a global leader in payment systems, offering flexibility, security, and convenience for both merchants and consumers. With its broad merchant network, innovative features like QR payments, and growing international acceptance, UnionPay continues to shape the future of financial transactions worldwide.
Start accepting UnionPay payments by using a payment gateway like Antom. With our deep market expertise, extensive partnerships network, and comprehensive payment technologies, we’re ready to help your business boost revenue and support market entry to China and beyond. Contact us to learn more about UnionPay and other payment methods around the world: https://www.antom.com/contact-us