Payscout and UnionPay International today announced that Payscout is a Principal Member and Global Acquirer of UnionPay International, the world’s largest bankcard association in terms of card issuance, with over 7.5 billion cards issued globally.
“UnionPay is committed to providing secure, convenient and flexible payment services for our cardholders worldwide,” said Mr. Larry Wang, Vice President of UnionPay International. “Payscout has developed its reputation as a trusted UnionPay partner. We believe our partnership will enable merchants to effectively accept UnionPay Online Payment, further enhancing our service capabilities for UnionPay cardholders.”
As of March 2019, 174 markets and 52 markets accept and issue UnionPay cards, respectively. Globally, over 55 million merchants accept UnionPay cards. In 2018, the total number of UnionPay transactions exceeded 17.69 trillion USD, up 28% from 2017. With increasing global acceptance and a growing number of Chinese tourists worldwide, this figure is expected to continue rising at a rapid rate.
Payscout is a leading global payment processing provider with services in Brazil, Canada, Central and South America, China, Europe, and the United States, offering tokenization and full integration with UnionPay SecurePlus for credit and debit transactions.
With Payscout’s instant onboarding solution, merchants can complete a simple web-based form and receive an API and login credentials to start processing UnionPay transactions within minutes. Payscout’s API connection facilitates 99% conversions for UnionPay cardholders instantly, worldwide.
In one of the first partnerships of its kind, UnionPay and Payscout are collaborating to support top-tier global merchants in updating their connectivity and increasing approvals for credit and debit transactions.
“Payscout is honored to be recognized as a trusted partner of UnionPay International,” said Cleveland Brown, CEO of Payscout. “As a long-time advocate of global ecommerce, we are excited to work closely with UnionPay in supporting their plans for global expansion.”