First Data Partners with UnionPay International to Enable In-Store and Online Transactions in the U.S.
October 24 2017 - 7:00AM
Business Wire
New partnership will allow UnionPay card
holders to shop at U.S. retailers
First Data (NYSE: FDC), a global leader in commerce-enabling
technology, and UnionPay International, an international bankcard
company headquartered in Shanghai, announced today that they will
partner to expand UnionPay card acceptance in the United States,
both with in-store and online purchases. The partnership allows
Chinese visitors to use their UnionPay chip credit and debit cards
at First Data’s U.S. merchant clients. The implementation will
eventually extend to the four million merchant locations that First
Data serves across the U.S.
By 2021, it is expected that there will be up to 23 million
Chinese visitors in the U.S., a group that on average spends as
much as $8,000 per trip.1 As a result of the commercial agreement
between First Data and UnionPay International, U.S. retailers will
be able to accept EMV transactions made with UnionPay debit or
credit cards.
First Data will also enable UnionPay debit or credit
transactions made online or in-app, via a mobile phone or other
device. The partnership will initially target a vast array of First
Data online retailers within the travel and entertainment
industries, including airlines, cruise lines, and entertainment
theme parks.
“As the world becomes increasingly borderless, First Data is
dedicated to supporting our merchant clients with flexible payment
options for their customers, wherever and however they shop,” said
Dan Charron, Executive Vice President, Global Business Solutions,
First Data. “We are extremely proud to work with an innovative
partner like UnionPay International to expand their card acceptance
throughout the United States.”
“We are very glad to strengthen our partnership with First Data.
We believe this new partnership will not only offer safer payment
services to our cardholders visiting the United States, but also
lay a solid foundation for the future rollout of UnionPay’s
innovative products based on chip cards in the U.S.” said June
Chen, General Manager of UnionPay International America.
As part of the agreement, UnionPay debit transactions will be
routed through First Data’s least cost debit routing technology,
which allows merchants to reduce their overall cost of payment
acceptance by routing transactions through the most cost-effective
network. First Data acquired the technology via the acquisition of
Acculynk, a technology company with innovative debit capabilities,
earlier this year. The acquisition expanded First Data’s leading
portfolio of global debit solutions to include least cost routing
and disburse-to-debit technology.
First Data also recently introduced several other enhancements
to its digital commerce solution suite, including a cutting-edge
tool called Fraud Detect that leverages artificial intelligence,
machine learning, and cybersecurity expertise to detect potential
fraud before it occurs.
About First Data
First Data (NYSE: FDC) is a global leader in commerce-enabling
technology and solutions, serving approximately six million
business locations and 4,000 financial institutions in more than
100 countries around the world. The company’s 24,000
owner-associates are dedicated to helping companies, from start-ups
to the world’s largest corporations, conduct commerce every day by
securing and processing more than 2,800 transactions per second and
$2.2 trillion per year.
About UnionPay International
UnionPay International (UPI) is a subsidiary of China UnionPay
focused on the growth and support of UnionPay’s global business. In
partnership with more than 1700 institutions worldwide, UnionPay
International has enabled card acceptance in 162 countries and
regions with issuance in 42 countries and regions. UnionPay
International provides high quality, cost effective and secure
cross-border payment services to the world’s largest cardholder
base and ensures convenient local services to a growing number of
global UnionPay cardholders and merchants.
1
https://www.bloomberg.com/news/articles/2016-12-16/american-cities-yell-ni-hao-to-millions-of-chinese-tourists
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version on businesswire.com: http://www.businesswire.com/news/home/20171024005589/en/
Liidia LiuksilaFirst
Data212-515-0174Liidia.Liuksila@FirstData.comorAgnes HouUnionPay
International+86 20265843houlingwei@unionpayintl.com
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