China UnionPay

China UnionPay has qualified FIME’s personalization validation tool (PVT), marking the Chinese payment brand’s first certification of an overseas lab for testing its secure chip products.

Bank of America Merrill Lynch is launching a payments collection platform that helps users manage mobile wallets and card payments in China through an arrangement with China UnionPay Merchant Services.

Mobile QuickPass NFC payments are accepted at nearly a half million point-of-sale terminals outside of China, and QuickPass QR code payments have been available in Hong Kong and Singapore for about a month.

Consumers with a Mastercard, Visa or Union Pay card will use the mobile Standardized QR Code app to scan merchant-presented QR codes.

As China's only gambling center, the island has become a crime risk, pressuring greater security for card transactions.

As more of China's citizens engage in travel and commerce across the nation's borders, more companies want to help them pay and collect money. Many of China's dominant payment brands are extending their reach globally, but U.S. and European companies are also focused on this audience.

The growing number of Chinese consumers traveling to the U.S. and other countries is becoming a two-for-one opportunity for payment companies. The market's gigantic and growing — and it has a lot of trouble executing transactions.

UnionPay's collaboration with United Airlines and Planet Payment is the latest salvo in a race among Chinese companies to cater to overseas travelers.

European mobile point of sale provider iZettle has added UnionPay cards to the menu of credit and debit cards its merchants can accept.