In 2013, 38% of all payment cards globally were issued by UnionPay, see. UnionPay International has just revealed plans to expand their presence and services to over 148 countries and regions outside mainland China.

Chinese travellers

Chinese mainland travelers currently have made more than 100 million trips overseas within the first 11 months in the year 2013, compared to the 9 million made in 1998. It is also observed that these travelers frequent neighbouring Asian countries and regions, counting up to 90% of destinations then followed by European destinations with 3.5%, 2.7% in destinations found in the Americas and 1.1% in Oceania destinations.

UnionPay cross-border usage and coverage

Currently, UnionPay International has been available in South Korea since 2005 with over 10 million UnionPay cards issued by associated local banks. Other countries that provide UnionPay services are in Japan, Mongolia and China's Hong Kong and Macao regions with the latter having the most ATMs and businesses accepting UnionPay cards.

UnionPay International (UPI) is a subsidiary of China UnionPay focused on the growth and support of UnionPay’s global business. In partnership with more than 300 institutions worldwide, UnionPay International is enabling card acceptance in 148 countries outside the Chinese mainland, and with issuance in more than 30 countries.

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CTMfile take: Even though the market has been opened up to other card systems, see, it will take VISA and MasterCard it will take them many years to have an impact. Accepting UnionPay cards could increase your sales to wealthy Chinese travellers.