UnionPay, abbreviated as UPI or CUP, is a Chinese-based international payment processing service provider with about 20 years of operation, having opened its doors for the first time in 2002. The company is a product of the joint efforts of a number of prominent Chinese banking institutions, including the Bank of China, the Industrial and Commercial Bank of China, the Agricultural Bank of China, and the China Construction Bank. Although the provider has managed to expand its coverage worldwide, China is still its main client base. UnionPay's headquarters are located in Shanghai.
|Payment Type||Bank Card, Bank Transfer, Mobile Payments|
Partnerships with Other International Payment Networks
In 2005, UnionPay entered into multiple partnerships with other global payment service providers, including American Express, Mastercard, and Visa. Consequently, there are selected UnionPay credit cards linked with these companies, making it possible to use them outside the Chinese territory. In a bid to extend its reach, UnionPay has also struck partnerships with at least 300 other financial institutions across the world, including the following:
- BC Card
UnionPay's Payment Options
Initially, users were issued with UnionPay debit cards by their local banks (banks in the UnionPay network). These cards could be used at a wide range of both online and offline retailers. Later on, the company started providing other options, including credit, prepaid, premium, and commercial cards. As a UnionPay customer, one is required to choose the card that suits their needs. When it comes to live dealer casinos, the payment method is available for both deposits and withdrawals.