What China UnionPay does

China UnionPay (中国银联) is the national payment card network of the People's Republic of China, established in 2002 under the supervision of the People's Bank of China, with UnionPay International Co., Ltd. (银联国际有限公司) operating as its wholly-owned overseas subsidiary headquartered in Shanghai. The network issues 62-prefix cards and operates a card-based payment system accepted across 183 countries and regions, serving individual cardholders, merchants, financial institutions, and corporate customers globally through a membership-based distribution model spanning 30+ million member institutions.

The company's core product portfolio includes card products (debit, credit, prepaid, commercial, premium/Platinum/Diamond, and theme cards), mobile payment solutions (Mobile QuickPass supporting NFC contactless payments on Apple Pay, Samsung Pay, Huawei Pay, Xiaomi Pay, OPPO Pay, vivo Pay, and HCE products), an EMV-based QR Code Payment product, and the unified UnionPay App (云闪付). Value-added services include Global Express (MoneyExpress) cross-border remittance connecting 45+ countries through 28+ partner institutions including MoneyGram and Wise, tax refund services in 40+ countries via partnerships with Global Blue, Planet Tax Free, and Premier Tax Free, the U Rewards loyalty platform, installment payments, and the U Collection premium merchant privileges program. The platform integrates with 46+ local digital wallets in Asia-Pacific including Petal Pay and Douyin Pay, positioning UnionPay as a cross-border tokenization and clearing layer behind regional super-apps.

The business model is membership-based: financial institutions globally join as members and issue UnionPay-branded cards, generating revenue through transaction processing fees from member institutions and merchants, although specific pricing and revenue figures are not publicly disclosed. Distribution is executed through bank and financial institution issuers (including all major Chinese state-owned commercial banks), merchant acceptance networks, mobile applications, and device OEM integrations, supported by 20+ regional offices across Asia, Europe, the Americas, Oceania, and Africa. The company's footprint serves both outbound Chinese traveler spend and local acceptance in 180+ jurisdictions, with notable merchant coverage milestones including 90% of Japan, 70% of Brazil, and 45万+ merchants in Canada.

Name

China UnionPay

Legal name

银联国际有限公司 (UnionPay International Co., Ltd.)

Website

https://unionpayintl.com

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

501–1,000 employees

Short description

China UnionPay operates China's national card payment network (UnionPay International subsidiary), issuing 62-prefix cards accepted across 183 countries. It serves Chinese consumers, global merchants, and member banks through card, NFC, QR, and cross-border remittance services.

Ownership category

akta.pro rank

Product category

Payment Network Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Credit Card Issuing (522210)

SIC

Finance Services (6199)

akta.pro primary industry

International / Global Card Schemes (FSAMAAAD)

akta.pro secondary industries

Domestic / National Card Schemes (FSAMAAAC), Card Clearing & Settlement (Interchange, Network Settlement) (FSABAJAJ), Cross-Border Card-Based Transfers & Multi-Currency Cards (FSAGAKAE)

Keywords

• Payment card network
• Mobile payment services
• Cross-border remittance
• Card issuance services
• Merchant payment processing

Headquarters

HQ city

Shanghai

HQ country

China

HQ region

Asia

Offices22 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Infrastructure, Operations, Personnel, Marketing or Sales

Distribution channels5 records

Marketing channels6 records

Core offering

China UnionPay operates a global bank card and payment network providing card (debit, credit, prepaid, commercial, premium), mobile (NFC/QuickPass, QR code, UnionPay App), and cross-border payment services. The company runs a proprietary clearing and settlement infrastructure supporting card issuance through member banks, merchant acceptance across 183 countries and regions, and value-added services such as cross-border remittance (Global Express/MoneyExpress), international tax refunds, and a unified mobile payment app.

Product overview

China UnionPay operates as a comprehensive payment network offering a unified platform with multiple integrated products and services. The core offering includes card products (借记卡/信用卡/预付卡/商务卡/高端卡/主题卡) that form the foundation of the payment ecosystem. These are complemented by mobile payment solutions including 手机闪付 (Mobile QuickPass) supporting NFC contactless payments on major device platforms, 云闪付 (UnionPay App) as the unified mobile wallet, and 银联二维码支付 (QR Code Payment) for QR-based transactions. Value-added services include 跨境汇款 (Cross-Border Remittance via MoneyExpress), 银联退税 (Tax Refund), 权益U赏 (U Rewards loyalty platform), 分期付款 (Installment Payments), and U Collection (premium merchant privileges). The ecosystem extends globally through acceptance in 183 countries/regions and supports multiple payment modalities including contactless NFC, QR codes, and traditional card payments.

Differentiator

Problem solved

Functional benefit

Brands

• UnionPay App (云闪付): Mobile payment app integrating banking and payment services from various financial institutions
• Mobile QuickPass (手机闪付)
• UnionPay QR Code Payment (银联二维码支付)
• U Rewards (权益U赏)
• Global Express (全球速汇)

Products and services

• UnionPay Debit Card (银联借记卡) UnionPay-branded debit cards allowing cardholders to access funds directly from their bank accounts for payments and withdrawals globally, issued through member financial institutions.
• UnionPay Credit Card (银联信用卡) UnionPay-branded credit cards providing revolving credit for purchases and cash advances, accepted globally across the UnionPay network and co-branded with member banks.
• UnionPay Prepaid Card (银联预付卡) Preloaded value cards issued for specific amounts, providing secure payment options without requiring a bank account or credit check.
• UnionPay Commercial Card (银联商务卡) Business-focused payment cards designed for corporate expense management, business travel, and B2B payments.
• UnionPay Premium Card (银联高端卡) Premium tier UnionPay cards including Platinum and Diamond cards offering exclusive benefits, airport lounge access, and enhanced customer services.
• UnionPay Theme Card (银联主题卡) Co-branded and themed UnionPay cards targeting specific demographics, interests, or partnerships.
• Mobile QuickPass (手机闪付) UnionPay mobile contactless NFC payment service supporting mobile devices for offline contactless payment and QR code payment, including Huawei Pay, Xiaomi Pay, OPPO Pay, vivo Pay, Apple Pay, Samsung Pay, Meizu Pay, and HCE products.
• UnionPay App (云闪付) Unified mobile payment app jointly launched by UnionPay, banks and payment institutions, aggregating mobile payment functions and providing consumers with safe, convenient one-stop mobile payment services.
• UnionPay QR Code Payment (银联二维码支付) UnionPay cloud flash payment QR code product enabling cross-bank transfer through QR code EMV code interaction, supporting person-to-person, person-to-merchant, and merchant-to-merchant transactions including consumption, transfer and withdrawal.
• Cross-Border Remittance / Global Express / MoneyExpress (银联全球速汇) Global Express (MoneyExpress) cross-border remittance service enabling overseas remittances to UnionPay cards at 24 Chinese banks, with funds received in RMB without separate foreign exchange procedures, connecting 45+ countries with 28+ partner institutions including MoneyGram and Wise.
• UnionPay Tax Refund (银联全球退税) International tax refund service allowing UnionPay cardholders (62-prefix) to receive VAT refunds directly to their cards in 40+ countries with no currency conversion fees, partnering with Global Blue, Planet Tax Free, Premier Tax Free, GB Tax Free, and Easy Tax Refund.
• U Rewards (权益U赏) Mobile-based electronic rights management and promotion platform providing UnionPay cardholders with one-stop rights management and loyalty solutions including airport lounges, hotel discounts, and dining privileges.
• U Collection Premium merchant privilege program offering exclusive benefits across global luxury dining, shopping, hotel, lifestyle and travel sectors for high-end UnionPay cardholders.
• Installment Payment (分期付款) Cross-border installment payment service offered jointly with banks, acquirers and merchants, providing merchant-subsidized installment benefits for UnionPay cardholders.
• UnionPay International Open Platform (银联国际开放平台) Developer-facing open platform enabling partner institutions and merchants to integrate UnionPay payment services and access business applications.

Quantifiable outcome

• UnionPay cards accepted in 183+ countries and regions globally
• +3 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration16 records

Feature8 records

Partnerships

28 partnerships are on record, tiered core and major.

• Global BluecoreStrategic or Co-development PartnerTax refund service partnership covering 40+ countries. Global Blue is the world's leading tax-free shopping organization, providing UnionPay cardholders with convenient tax refund services at partner merchants across Europe, Asia, and other regions.
• Planet Tax FreecoreStrategic or Co-development PartnerTax refund partnership enabling UnionPay cardholders to receive tax refunds directly to their cards. Supports city-center tax refunds and quick refund-to-card service with fastest 2-day processing.
• Premier Tax FreecoreStrategic or Co-development PartnerTax refund service partnership covering multiple countries, enabling UnionPay cardholders to receive tax refunds on their UnionPay cards with guaranteed currency conversion.
• MoneyGrammajorChannel Partner/ Reseller/ DistributorInternational money transfer service partnership enabling cross-border remittances from 45+ countries to China through MoneyGram's global network of physical locations and digital channels.
• TransferWise (Wise)majorChannel Partner/ Reseller/ DistributorCross-border remittance partnership allowing users to send money to UnionPay cards in China through Wise's digital platform with competitive exchange rates.
• CIBC (Canadian Imperial Bank of Commerce)majorChannel Partner/ Reseller/ DistributorPartnership with Canadian bank enabling international students to pay tuition using UnionPay cards and supporting cross-border education payment services.
• Network International (NI)majorChannel Partner/ Reseller/ DistributorPartnership with UAE's largest payment acquirer enabling QR code payment acceptance in the Middle East market.
• Mashreq BankmajorChannel Partner/ Reseller/ DistributorPartnership with UAE's largest private bank for QR code payment acceptance, expanding UnionPay's footprint in the Gulf region.
• Barclays BankmajorChannel Partner/ Reseller/ DistributorPartnership with UK bank for UnionPay card acceptance, with collaborations with all four major UK acquiring institutions covering over 50% of UK merchants.
• 龙腾出行 (DragonPass)majorStrategic or Co-development PartnerAirport lounge service partnership providing UnionPay premium cardholders with access to over 1200 airport lounges globally, including complimentary dining experiences.
• HarrodsmajorGTM or Marketing PartnerPremium dining privilege partnership at Harrods Knightsbridge flagship store in London, offering 15% discount for Diamond cardholders and 10% for Platinum cardholders at select restaurants.
• 洲际酒店集团 (InterContinental Hotels Group)majorGTM or Marketing PartnerHotel booking partnership offering 10% discount (up to 200 RMB per stay) for UnionPay Platinum/Diamond cardholders booking IHG hotels in mainland China through official channels.
• 璞富腾酒店及度假村 (Preferred Hotels & Resorts)majorGTM or Marketing PartnerGlobal hotel booking partnership offering up to 30% discount for UnionPay cardholders booking through Preferred Hotels network in 80+ countries.
• 比斯特系列 (Bicester Collection)majorGTM or Marketing PartnerExclusive shopping village partnership offering UnionPay cardholders VIP 10% discount cards at nine Bicester Collection shopping destinations across Europe.
• AvismajorGTM or Marketing PartnerGlobal car rental partnership offering 15% discount for UnionPay cardholders booking through Avis in 165 countries and territories.
• Klook客路旅行 (Klook)majorGTM or Marketing PartnerTravel experience booking partnership offering UnionPay cardholders travel activity vouchers and discounts across 1000+ destinations globally.
• National Bank of GreecemajorChannel Partner/ Reseller/ DistributorATM acceptance partnership in Greece, with National Bank of Greece ATMs supporting UnionPay card cash withdrawals along with Piraeus Bank, Alpha Bank, Eurobank.
• OTP BankmajorChannel Partner/ Reseller/ DistributorATM acceptance partnership in Hungary, with OTP Bank and Euronet ATMs supporting UnionPay card cash withdrawals across the country.
• 巴克莱银行 (Barclays)majorChannel Partner/ Reseller/ DistributorUK acceptance partnership with Barclays Bank, one of the four major UK acquiring institutions, contributing to 50%+ merchant coverage in the UK.
• 中国工商银行 (ICBC)coreChannel Partner/ Reseller/ DistributorCore member bank partnership with China's largest commercial bank for card issuance and acceptance services.
• 中国农业银行 (ABC)coreChannel Partner/ Reseller/ DistributorCore member bank partnership for UnionPay card issuance and merchant acquiring services.
• 中国银行 (BOC)coreChannel Partner/ Reseller/ DistributorCore member bank partnership supporting UnionPay card services including cross-border remittance receiving services.
• 中国建设银行 (CCB)coreChannel Partner/ Reseller/ DistributorCore member bank partnership for UnionPay card issuance and cross-border payment services.
• 交通银行 (Bank of Communications)coreChannel Partner/ Reseller/ DistributorMember bank partnership supporting UnionPay card services and cross-border payment solutions.
• SSL (Bangladesh largest payment gateway)majorChannel Partner/ Reseller/ DistributorPartnership with Bangladesh's largest payment gateway to enable QR code acceptance at all SSL merchants.
• Kazakhstan People's Savings BankmajorChannel Partner/ Reseller/ DistributorFirst large-scale contactless UnionPay card issuance in Kazakhstan, enabling tap-and-pay functionality to reduce transaction time and cash usage.
• FlywiremajorGTM or Marketing PartnerGlobal education payment platform partnership enabling international students to pay tuition with UnionPay cards at universities including Penn State, UCLA, UC Berkeley, and others.
• 鹤羽药妆 (Tsuruha Pharmacy)majorGTM or Marketing PartnerPartnership with Japan's leading drugstore chain offering up to 7% discount plus tax exemption for UnionPay cardholders at 2359+ stores nationwide.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Visa: Global card network operating the Visa scheme across 200+ countries with similar four-party model (issuer, acquirer, network, cardholder). Most directly comparable global card network competitor to UnionPay in cross-border acceptance and brand-driven cardholder engagement.
• Discover Financial Services: US-originated card network (Discover/Diners Club International) with international acceptance and direct issuer relationships. Comparable as a non-top-2 closed-loop scheme seeking to expand acceptance and issuer partnerships globally.
• Diners Club International: International charge card network with travel and premium positioning. Comparable to UnionPay's premium card segment in targeting cross-border, high-spend consumers rather than mass-market acceptance.
• JCB (Japan Credit Bureau): Japan-originated international card network with strong APAC acceptance footprint. Comparable as a regional/national card scheme expanding internationally, with similar challenges and strategic positioning vis-à-vis Visa/Mastercard in Asia.
• Mastercard: Global card network with parallel four-party model, NFC tokenization (MDES), and cross-border acceptance footprint. Direct competitor to UnionPay for cross-border card issuance and merchant acquiring relationships worldwide.
• American Express: Global card network with proprietary closed-loop issuing and premium card focus. Recently partnered with Alipay (2025) to enable AmEx cardholders to pay across mainland China — directly competing with UnionPay in the premium/cross-border segment.

Broad incumbents

• Alipay (Ant Group): China's dominant mobile payment wallet and a major competitor to UnionPay domestically, while also operating cross-border through Alipay+ partnerships. Comparable as a payment rail competing for the same Chinese consumer transaction volume, especially in cross-border e-commerce.
• J.P. Morgan Payments: Large incumbent payment processor and network-adjacent player offering acquiring, issuer processing, and cross-border B2B payments. Comparable as a competing infrastructure layer for cross-border and corporate payment flows.
• WeChat Pay (Tencent): China's second major mobile wallet with deep penetration in domestic payments and growing cross-border capabilities. Competes with UnionPay for Chinese consumer transaction share and for acceptance at merchants globally.

Emerging players

• Adyen: Global payment processing platform offering unified acquiring across card schemes and alternative rails, including tokenization and QR. Comparable to UnionPay International's open platform effort at open.unionpayintl.com in serving merchants needing multi-rail integration.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/unionpay
• Facebookfacebook.com/unionpayintl
• LinkedInlinkedin.com/company/unionpay-international
• Instagraminstagram.com/unionpayintl

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries19 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about China UnionPay