What is UnionPay? - Chinese Fund Processing Company

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1. What is UnionPay?

UnionPay is a fund transfer and payment management platform based in China. It's also known as the name of China UnionPay or CUP. UnionPay is the world's largest card payment facilitating platform that keeps a long distance to VISA and Mastercard.

With the approval of the People's Bank of China, UnionPay has launched its services on 26th March 2002. UnionPay is currently headquartered in Pudong, Shanghai, China.

UnionPay does have strategic partnerships with Discover, RuPay (India), JCB (Japan), and BC Card (South Korea). With the strategic partnerships, UnionPay has enabled its presence to accept payments with merchants which does facilitate the above payment methods.