Abstract
Our series of third-party payment company profiles begins with an in-depth
look at China UnionPay (CUP), China' s only inter-bank fund transfer network
and the gateway to all RMB-denominated bank payments in China. In this report,
we study CUP' s expanding role in domestic and international RMB bank transfers
and payments, we analyze its competitiveness with payment giant Visa
International, and evaluate partnership opportunities for payment network and
technology companies in China and abroad.
Key Findings:
- Approximately 500 million CUP branded bank cards have been issued in
China, of which only 14 million are credit cards.
- CUP bank card payments reached up to 30% of all consumer retail purchases
in China' s tier-one cities.
- Through subsidiary companies, CUP also offers telephone payment, online
payment, and mobile payment services.
- CUP is open to working with outside companies that provide best-ofbreed
technology in building its payment network.
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