China Unionpay

Established in 2002 in Shanghai as China’s card scheme, UnionPay has played a pivotal role in China’s bankcard industry by providing a unified inter-bank clearing and settlement system and developing the international business network for UnionPay cards. Just 10 years later, today, over 2.9 billion UnionPay cards are in circulation. In 2011, total UnionPay card transactions generated from over 10 million merchants and 1.3 million ATMs reached USD 2.57 trillion, accounting for 19.8% of the world’s bankcard transaction volume. With its quickly expanding global presence, UnionPay cards are now accepted in 125 countries and regions outside China. Institutions in 24 countries and regions outside China has issued 13 million UnionPay cards in their local currencies.