(Yicai Global) Oct. 25 -- UnionPay International Co. (UPI), a subsidiary of Chinese bankcard operator China UnionPay Co. (CUP) focused on the growth of CUP's global business, will expand its partnership with payment service provider First Data Corp. [NYSE:FDC] to optimize its card services in the US.
The pair agreed to complete the chip migration of all of First Data's payment processing platforms by the end of this month and enable the acceptance of UnionPay chip cards by four million offline merchants that First Data serves in the US, Chinanews.com reported. They will work together to enable UnionPay transactions made online with First Data's travel and entertainment internet retailers.
The strengthened partnership between the two firms will help them quickly advance the acceptance of UnionPay chip cards in the US, offer safer payment services to UnionPay cardholders visiting the States and lay a solid foundation for the future roll-out of UnionPay's QuickPass products in the country, a UPI representative said.
Several online retailers including airlines, cruise lines, car rental companies, theme parks and online travel agents (OTAs) will accept web payments from UnionPay cards, including UnionPay debit cards, he said. This will bring self-guided tourists more choices when they plan travel itineraries or book experience-focused tour products online, he said.
Almost all automated teller machines in the US support cash withdrawals using UnionPay cards, and over 80 percent of merchants accept payment with UnionPay credit cards. More than 90 percent of sellers in famous shopping centers and outlets in New York, Hawaii, San Francisco and Los Angele accept UnionPay cards.
UnionPay cardholders can also enjoy exclusive privileges in the US. They can get free entry tickets to renowned museums in New York and Chicago. Macy's Inc. [NYSE:M], one of the largest department store chains in the US, has joined UPI's cross-border marketing platform. UnionPay cardholders can get exclusive e-coupons on their mobile phones, giving them instant discounts when they pay with UnionPay cards at Macy's.