UnionPay goes local to saturate its Italian merchant network

Register now

China's UnionPay hopes to boost its reach in Italy by about a third, and has turned to local Italian acquirer Nexi to increase acceptance of UnionPay cards in stores and e-commerce.

UnionPay has a 65% acceptance level across Italy and it estimates the new agreement will increase that rate to 95% by March of 2021.
The signed agreement gives UnionPay the opportunity to have cards accepted through a Nexi network that includes 890,000 merchants and the management of 1.1 million POS terminals, and partnerships with 150 banks covering 80% of the system in Italy.

The collaboration will particularly boost acceptance in the hotel, food/beverage and car rental sectors.

UnionPay reports it has more than 7 billion cards issued worldwide and its global network has extended to 174 countries and regions, covering 53.7 million merchants and 2.8 million ATMs.

For reprint and licensing requests for this article, click here.
Payment cards Retailers Payment processing Italy
MORE FROM PAYMENTSSOURCE