China UnionPay is a Chinese national payment system that was created in 2002 with the support of the Chinese State Council and the People’s Bank of China. China Union Pay is comprised of 300 credit institutions in China and abroad.
As of November 2010, UnionPay cards were accepted in 142 countries across the globe. The service network is constantly expanding and now is made up of 1.8 million ATMs.
UnionPay is the largest payment system judging by the number of issued cards: by 2015, 4 billion cards had been issued.
UnionPay customers can make payments and place orders at any moment in time, use the services of “shopping abroad” consultants; withdraw money using ATMs across the globe.
The withdrawal fee is 1%, but it can’t be less than 3 and more than 5 USD. Cashless transfers and card payments cost 50 cents each; UnionPay-connected ATM withdrawals cost 1.75% of the amount withdrawn.
UnionPay boasts a range of advantages: it’s easy to get a UnionPay card; universality and wide acceptance, affordable fees, ease of payments and transparency.