What is UnionPay? - Chinese Fund Processing Company


UnionPay Logo

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 which keeps a long distance to VISA and Mastercard.

With the approval of People's Bank of China, UnionPay was launched their 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 it's presence to accept payments with merchants which does facilitates above payment methods.