UnionPay Continues Global Expansion of its Payments Business, Opens China Market to Major Card Issuers
REDWOOD CITY, Calif., Dec. 13, 2018 /PRNewswire/ — i2c, a leading global provider of payments processing technology and services, today announced that it has successfully obtained certification as an issuer processor for UnionPay International, an international bank card association headquartered in Shanghai, the People’s Republic of China.
“The high number of visitors from US to China offers a tremendous opportunity for financial institutions to issue UnionPay cards. While we have been processing UnionPay cards in the Australian market, we are pleased to expand our relationship with UnionPay to now support the US issuers as well,” said Amir Wain, CEO and founder at i2c. “i2c’s robust, single-source, global payments platform and our multi-currency, multi-purse capabilities enables issuers to open new revenue streams and give travelers to and from China the convenience and freedom to carry unlimited currencies on a single card.”
UnionPay is the largest bankcard association in the world in terms of card issuance and transaction volume processed. It is also the interbank network in China that links all of the ATMs and banks throughout the country. In partnership with over 2,000 institutions worldwide, UnionPay International provides associate members and partners with unified, standard, high-security transactions for cardholders.
“We are pleased to have i2c as an officially certified UnionPay issuer processor,” said June Chen, General Manager at UnionPay International Americas. “i2c’s agile, flexible, and reliable issuer processing platform offers our member banks an excellent option. i2c’s speed of implementation is very impressive as well having rolled out programs with two of our member banks in a very short period of time. We believe this partnership will soon bring our safe and convenient payment products and services to the US customers, especially those who often visit Asia.”
About UnionPay International
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 2000 institutions worldwide, UnionPay International has enabled card acceptance in 171 countries and regions with issuance in 51 countries and regions. UnionPay International provides high quality, cost effective and secure cross-border payment services to the world’s largest cardholder base and ensures convenient local services to a growing number of global UnionPay cardholders and merchants. For more information, visit www.unionpayintl.com/en.
About i2c Inc.
Headquartered in Silicon Valley, i2c is a leading provider of payments processing technology and services to financial institutions, recognizable brands, FinTechs, governments, and program managers around the world. i2c’s configurable cloud-based platform gives our customers the control to bring to market high-value payments and digital commerce solutions that deliver the differentiated customer experiences today’s cardholders expect. Companies can quickly and cost-effectively create, deploy, and manage profitable credit, debit, and prepaid solutions from a single global platform that provides unparalleled flexibility, agility, and reliability. i2c’s platform delivers next-generation payments solutions that meet the differentiated needs of customers and cardholders in 216 countries and territories. For more information, visit www.i2cinc.com.