UnionPay International Strengthens Cooperation with NETS in Singapore
2013-11-25
November 25 - UnionPay International and NETS (local debit card switching network in Singapore) sign a MOU in Singapore, hoping to further expand the scope of UnionPay cards acceptance, facilitate chip card upgrading for local UnionPay card acceptance terminals and conduct cooperation on cross-border online payment and many other business fields. China UnionPay President Shi Wenchao and UnionPay International CEO Cai Jianbo jointly attend the signing ceremony.
In recent years, Singapore has not only witnessed constant breakthroughs in the development of UnionPay card business but also contributed to the development of the same in Southeast Asian markets. Currently, UninPay cards are accepted by 99% of ATMs and 70% of POS terminals in Singapore. About 110,000 UnionPay cards have been issued locally and the volume of transactions via UnionPay cards has remained in rapid growth for a long time.
On the same day, UnionPay International and NETS agree to continue to expand cooperation based on the existing friendly relations maintained in recent years, optimize card-using environment in Singapore, focus on promoting the upgrading of UnionPay chip card acceptance terminals, expand online payment business with joint efforts, encourage local well-known airlines, hotels and other entities to use UnionPay card online payment service and other services, and carry out special marketing activities targeted at holders of UnionPay chip cards.
China UnionPay President Shi Wenchao says, Singapore is not only one of the global financial centers, but also an important market for the development of UnionPay International business. With the support of all partners including NETS, UnionPay International has been able to constantly improve the card-using environment in Singapore, diversified the UnionPay cards issued locally, and made UnionPay products and services recognized by more and more local residents and merchants. UnionPay attaches great importance to the all-round cooperation with local institutions like NETS, to jointly promote UnionPay card payment service and transfer work focus to providing local residents daily payment and cross-border payment service while basically meeting the payment requirements of cardholders visiting Singapore.
In recent years, Singapore has not only witnessed constant breakthroughs in the development of UnionPay card business but also contributed to the development of the same in Southeast Asian markets. Currently, UninPay cards are accepted by 99% of ATMs and 70% of POS terminals in Singapore. About 110,000 UnionPay cards have been issued locally and the volume of transactions via UnionPay cards has remained in rapid growth for a long time.
On the same day, UnionPay International and NETS agree to continue to expand cooperation based on the existing friendly relations maintained in recent years, optimize card-using environment in Singapore, focus on promoting the upgrading of UnionPay chip card acceptance terminals, expand online payment business with joint efforts, encourage local well-known airlines, hotels and other entities to use UnionPay card online payment service and other services, and carry out special marketing activities targeted at holders of UnionPay chip cards.
China UnionPay President Shi Wenchao says, Singapore is not only one of the global financial centers, but also an important market for the development of UnionPay International business. With the support of all partners including NETS, UnionPay International has been able to constantly improve the card-using environment in Singapore, diversified the UnionPay cards issued locally, and made UnionPay products and services recognized by more and more local residents and merchants. UnionPay attaches great importance to the all-round cooperation with local institutions like NETS, to jointly promote UnionPay card payment service and transfer work focus to providing local residents daily payment and cross-border payment service while basically meeting the payment requirements of cardholders visiting Singapore.
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