China UnionPay Extends Global Money Reach With New Scheme

MoneyGram and China UnionPay announced a network expansion to provide emergency cash services to UnionPay credit card cardholders.

Emergency cash services provide consumers access to funds during emergency situations, including lost, stolen or malfunctioning cards.

Under the agreement, UnionPay credit cardholders with cards issued by UnionPay's member institutions can use MoneyGram's global network of 284,000 locations to receive emergency cash services. Each UnionPay credit cardholder is eligible for cash assistance provided the card-issuing bank has enrolled to the MoneyGram service. The amount of available emergency cash is based on the credit limit designated by the card-issuing bank, with the maximum amount capped at USD5,000.

The overseas emergency cash assistance service is available to holders of UnionPay credit cards issued by its member institutions that have enrolled to the MoneyGram service in China. When traveling overseas, cardholders in emergency situations may call the local UnionPay service hotline in the country or region, or the customer service hotline of the domestic card issuer to apply for emergency cash assistance.