ASCHHEIM - Wirecard Bank AG and China UnionPay Co., LTD, Shanghai (hereinafter referred to as UNIONPAY) have signed a license agreement for online merchant acquiring services.
This cooperation will enable Wirecard Group to provide its Asian business clients a further substantial added value with regards to the availability of further payment methods and when it comes to opening up new markets. As a next step, the cooperation with UNIONPAY will be extended to include Europe.
“We are delighted to have China UnionPay, one of the fastest growing organizations in Asia, as our partner,” says Burkhard Ley, CFO at Wirecard AG, adding: “With our interlinked European and Asian merchant acquiring services on offer, we will further expand our international positioning in this field.”
UNIONPAY processes payments between banks of merchants and the card issuing banks or credit unions of the purchasers who use the "UnionPay" brand credit, debit and prepaid cards.
To learn more about UNIONPAY and its benefits for international merchants, please visit www.wirecard.com/unionpay.
Wirecard AG Iris Stöckl Bretonischer Ring 4 D-85630 Grasbrunn / Munich Germany Ph.: +49 (0) 89 4424 1424 Fax: +49 (0) 89 4424 2424 e-mail:email@example.com
About UnionPay: UnionPay is the only National Bankcard Association in China. As of end 2010, UnionPay has a membership of more than 400 member banks and non-bank financial institutions. Since it was founded in 2002, UnionPay has issued more than 2.38 billion bank cards through its members. Riding on the exponential growth of the Chinese economy, Total transaction amount switched by UnionPay network in 2010 exceeded RMB 11,200 billion, a year-on-year growth of 46%. Today, all bankcard issuers in China are members of UnionPay and UnionPay cards are accepted in 104 countries and regions.
About Wirecard AG:
Wirecard AG is one of the leading international providers of electronic payment and risk management solutions. Worldwide, the Wirecard Group supports over 11,000 companies from various industry segments in their efforts to automate their payment processes and minimize cases of default. Wirecard Bank AG is a Principal Member of Visa, MasterCard and JCB and operates as a credit card acquirer in 69 countries around the world, involving over 100 transaction currencies and 15 payout currencies. Part of the Wirecard Group, Wirecard Bank provides innovative solutions in the fields of corporate banking, prepaid and co-branded cards, along with account products for both business and private customers. Wirecard AG is listed on the Frankfurt Securities Exchange (TecDAX, ISIN DE0007472060, WDI).