China UnionPay - an electronic payment system, which is considered the only national payment system in China. The company was founded in 2002, with the assistance of the Central Bank of China. China UnionPay company includes more than 300 credit institutions in China and around the world. In 2011, the payment system was ahead in total output of cards such giants as: Visa and MaterCard on 10% and 29%, respectively. For comparison, in 2011 from January to June by means of bank cards in China was made payments in the amount of 178.6 trillion yuan (27.9 trillion dollars).
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 2000 institutions worldwide, UnionPay International has enabled card acceptance in 174 countries and regions with issuance in 52 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.