UnionPay cards in Canada continue to grow
Updated: 2015-02-26 05:04
By Wang Ru(China Daily Canada)
China's largest bankcard brand – UnionPay – and Canada's TD Merchant Services announced this month they have entered into an agreement to accept UnionPay cards beginning later this year.
The two sides agreed to enable 100,000 merchants within a three-year period, maintaining UnionPay's innovative payment methods, including contact-less payment with UnionPay chip cards.
Cai Jianbo, CEO of UnionPay International, Larry Wang, chief business development officer of UnionPay International, and Jeff van Duynhoven, president of TD Merchant Services, were at the signing ceremony in Shanghai on February 10.
"As the UnionPay network continues to expand in the overseas markets and the services keep improving, UnionPay cards have become outbound Chinese travelers' first payment choice and are currently accepted by over 80 percent of the local ATMs and tens of thousands of merchants in Canada," said Larry Wang.
"More than 400,000 Chinese tourists visited Canada last year and UnionPay cards provided them with convenient and secure services. TD's businesses cover many regions in North America and we will deepen our cooperation to continue to expand the UnionPay card acceptance and provide cardholders with diversified payment services," he said.
"It is a win-win cooperation for both sides," said Yuan Zhanling, former economic and commercial counselor of the Consulate General of the People's Republic of China in Vancouver. "The expansion of UnionPay cards will bring more convenience for Chinese businesspeople to invest, work and live in Canada," said Yuan, "It will also stimulate more spending from Chinese people traveling in Canada."
Jeff van Duynhoven, president of TD Merchant Services, said: "We are very pleased to partner with UnionPay to bring card acceptance to our merchants. Canada is a hugely popular destination for Chinese visitors and we want to ensure our merchants are enabled to accept their payment method of choice."
Since it entered Canada in 2009, UPI has been working with Canadian partners to expand the card acceptance across Canada.
UnionPay International and Moneris Solutions Corporation (Moneris), Canada's largest credit and debit card processor, jointly announced last November that UnionPay card acceptance would be available to Moneris merchants who sign up for the UnionPay card plan.
Moneris will enable UnionPay card acceptance to its 350,000 merchants across Canada, with merchants located in major cities including Toronto, Vancouver and Montreal, covering retail, travel, entertainment and other services frequently visited by Chinese travelers to Canada and local residents.
Currently, UnionPay cards have been accepted by 85 percent of ATMs and more than 15,000 merchants in Canada, covering airport duty-free stores, healthcare products stores and brand chain stores.
UnionPay card cross-border tuition payment service is also available in dozens of tertiary education providers in Canada. Moreover, UPI is also speeding up UnionPay card issuance and cross-border online payment service in the country. In addition, UnionPay cardholders can also enjoy privileges and considerate services in the duty-free stores at airports in Toronto and Vancouver.
In recent years, the use of UnionPay card in North America has become increasingly convenient. In addition to the large number of ATMs and merchants in Canada that have been enabled for UnionPay card acceptance, well-known online merchants are also enabled, including Tianbao Travel, Tianma Travel, Polar Bear Canada. Moreover, dozens of colleges and universities have enabled cross-border online tuition payment.
In addition, in the US, cardholders can use UnionPay cards at more than 90 percent of ATMs and 80 percent of merchants. Payments can be made not only with UnionPay credit cards through signature verification but also with UnionPay debit cards at merchants equipped with a pin pad. 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 has issued more than 4.7 billion UnionPay cards in over 150 countries and regions with issuance in 40 countries and regions.