China UnionPay, ACI Worldwide Team Up to Tap Global E-Pay Market
Xu Wei
DATE:  Mar 22 2018
/ SOURCE:  Yicai
China UnionPay, ACI Worldwide Team Up to Tap Global E-Pay Market China UnionPay, ACI Worldwide Team Up to Tap Global E-Pay Market

(Yicai Global) March 22 -- China UnionPay International Co. has struck a global partnership deal with ACI Worldwide Inc., a world leader in real-time electronic payment services and banking solutions provider. The pair will cooperate in UnionPay card payment, bankcard issuing and payment innovations, Chinese business news outlet Jiemian reported, quoting the Chinese financial services corporation as saying.

The deal has significant implications. "In the past, we carried out system transformation for individual partners and sellers one by one in foreign markets, but now ACI's powerful global financial technology will enable us to respond to affiliates' demands more swiftly, further improving the efficiency of relevant operations," said Cai Jianbo, UnionPay International's chief executive.

The parties, who signed their contract in Shanghai yesterday, will offer online UnionPay payment services on hundreds of websites of well-known financial, aviation, hospitality, e-commerce, retail and supermarket brands.

ACI offers e-payment services to over 5,100 businesses, with over 1,000 financial institutions and retailers. The partnership will integrate UnionPay payments into the former's worldwide remittance solutions, thus affording its clients secure and fast access to Chinese bankcard services. UnionPay payment will become available at first at ACI's payment gateways which hundreds of online sellers use. The duet will offer UnionPay QR code, in-app mobile payment and a marketing platform developed specifically for cross-border e-commerce companies and other innovative payment products and services.

ACI's global payment solutions are well-equipped to accommodate the various needs of UnionPay's affiliates and drive the long-term growth of UnionPay's worldwide bankcard businesses, the former's President Dan Frate noted. With the swelling ranks (over 100 million) of Chinese outbound tourists, ACI's extensive networks of sellers and financial institutions will help UnionPay supply their demand for overseas payment services.

UnionPay payment is active in 168 countries and regions and encompasses over 23 million sellers and 1.6 million-odd automated teller machines. Some 90 million UnionPay cards have issued outside China. UnionPay cards allow payment to more than 10 million online sellers -- mostly cross-border e-commerce, education and tourist service businesses -- in over 200 countries and regions.

ACI Worldwide is a global company furnishing electronic and banking services to more than 5,100 organizations. It processes USD14 trillion worth of payment and securities transactions every day for the world's tip-top financial institutions and multinationals.

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Keywords:   ACI Worldwide,Unionpay,US