UnionPay International boosts card acceptance globally with ACI, expanding its number of payment endpoints and accelerating the roll-out of new payment services
ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, today announced a key strategic partnership with Shanghai-based bank card company UnionPay International. UnionPay International is set to significantly grow its worldwide footprint by connecting to ACI’s extensive global network of payment endpoints. Additionally, ACI provides UnionPay International with a next-generation foundational platform through which a range of new products and services can be rapidly brought to market.
UnionPay International (UPI), a wholly-owned subsidiary of China UnionPay, focuses on the growth and support of UnionPay’s global business. UnionPay now serves the world’s largest cardholder base of more than 7 billion UnionPay cards issued worldwide, and is the preferred payment brand for outbound Chinese travelers. ACI’s extensive network of payment endpoints – in particular, card acquirers that are integrated with its Universal Payments solutions, will allow UnionPay to rapidly expand its footprint and increase card acceptance, in both in-store and card-not-present environments.
ACI’s UP solutions also enable UnionPay International to innovate in the fast-growing mobile payments space. UnionPay, through its ACI implementation, is preparing to accelerate the roll-out of new payment services for online and mobile payments. ACI’s strong global presence, including its connections to more than 400 alternative payment methods and card acquirers, will facilitate the timely rollout of new tokenisation-backed mobile solutions.
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“Since the start of this year, UnionPay has been focused on expanding our business by coming up with innovative ideas, collaborating with new organisations, and operating using new go-to-market strategies,” said Mr. Cai Jianbo, CEO, UnionPay International. “This partnership is of great significance as it promotes cooperation in the development of our overseas business. Organisations and merchants have transformed their systems and can now rely on ACI’s business and technical strength in the global financial sector to further accelerate the development of innovative products. We can respond faster to our customers’ needs and increase the efficiency of our business operations.”
“We are proud to partner with an industry leader such as UnionPay to serve the payment preferences of its customers through ACI’s expansive reach, and loyal customer base of merchants and financial institutions. And with the extensive capabilities delivered by our UP solutions, we are uniquely qualified to support UnionPay’s diverse needs, long-term growth and global ambitions,” said Dan Frate, Group President, ACI On-Demand, ACI Worldwide. “UnionPay’s growth opportunity is considerable, with Chinese consumers now making more than 100 million trips outside of Greater China annually, and this number is expected to increase substantially.”