China UnionPay cardholders beginning in March may use their cards with online retailers based in Taiwan under an agreement the card organization reached on Feb. 8 with Taiwan’s National Credit Card Center, which is responsible for the interbank settlements of credit card transactions between card-issuing banks and retail merchants’ banks.
Under the agreement, announced Feb. 8, popular online merchants such as electronics retailer PChome and hospitality chain Youhuo Landis Resort will be the first to offer UnionPay acceptance, a UnionPay spokesperson tells PaymentsSource.
“More institutions and businesses would accept UnionPay cards in the next phase,” she says, suggesting the card organization intends to grow online merchant acceptance organically in Taiwan as its card use in the country also grows.
In Taiwan, 50% of all payment terminals and 80% of all ATMs accept UnionPay cards, she says.
China UnionPay has been active in expanding its acceptance at brick-and-mortar locations overseas over the past few years. Last month, it announced that holders of its branded cards may shop at more than 8 million online merchants based overseas (see story).
Closer to home, China UnionPay recently achieved nationwide acceptance in South Korea under a deal with BC Card Co. Ltd. (see story).
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