Business Intelligence on Retailing, Franchising, and Consumerism in China

Foreign Payment Processor Launches China UnionPay Card Acquiring Service

Global Payments Asia-Pacific Limited has become the first foreign payment card processor to launch China UnionPay card acquiring service in China.

Global Payments Asia-Pacific Limited, a joint venture between the U.S.-based Global Payments and The Hongkong and Shanghai Banking Corporation Limited, states that the new service will be offered to merchants in partnership with HSBC.

While Beijing will be the first city in which merchants will be able to take advantage of the new service, it is planned to pursue an expansion of the offering in other parts of China in the future.

With the launch of its China UnionPay card acquiring service, Global Payments and HSBC will be able to process both domestic and foreign card transactions via a common point-of-sale system, allowing merchants to operate more efficiently and enhance customer service. By consolidating all payment transactions using Visa, MasterCard, American Express, JCB and now China UnionPay branded cards onto Global Payments/HSBC's network, merchants can enjoy the convenience of a single point of service for payments.

Other benefits to merchants include access to Global Payments' global reach and world-class payment processing expertise. Merchants will be able to leverage on Global Payments' product innovation and dedicated customer service.

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