UnionPay International Partners with Pecunpay to Issue UnionPay Card, Empowering Spanish Tourists and companies with a Fast, Safe, and Smooth Payment Experience Traveling in China

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Jun 01, 2023, 04:30 ET

MADRID, June 1, 2023 /PRNewswire/ -- UnionPay International (UPI) and Pecunpay recently announced the launch of the UnionPay card that empowers cardholders with a fully accepted payment method when travelling in China. It is needed to download the app Yi An, available on all major app stores in Spanish, English, and Mandarin, and apply for a debit card either physical or virtual.

Pecunpay is an electronic money institution regulated by the Bank of Spain that provides technology and services to companies to enable their development in payment systems based on issuing cards under a white label system to which the specific tailored functions of each group are added, as well as purchase solutions either in the physical or the virtual world.

Yang Shengliang, Co-head of UnionPay International Europe Branch., said: "We are delighted to cooperate with Pecunpay to offer smoother payment solutions to Spanish travelers in China. UnionPay card will provide tourists and businesspeople who regularly travel to China with access to the fast and secure environment fully supported by the UnionPay payment network, making payment hassles for travelers in the country a thing of the past."

According to Statista, the adoption rate of mobile payment among mobile internet users in China was over 85 percent in 2022, covering 911 million users with mobile payment penetration rate reaching almost 90 percent among urbanites, and a transaction volume exceeding 500 trillion yuan. So for tourists traveling to China, it is extremely important to have a corresponding cashless payment tool.

Antonio García Cruz, CEO of Pecunpay, commented: "For Europeans, the security of having a card issued in Europe allows them to respond to their day-to-day payment needs with an app where they can track and control their transactions and travel expenses. Landing in China with a UnionPay branded Yi An Card issued by a European entity is a guarantee of full acceptance, convenience and security for travelers."

About UnionPay International

UnionPay International focuses on the international business of UnionPay, a global payment network that serves the world's largest Cardholder base. Collaborating with over 2,500 partners globally, UnionPay acceptance now covers over 70 million merchants in 181 countries and regions. Outside Mainland China, UnionPay is accepted at over 38 million merchants and 1.76 million ATMs.

About Pecunpay

Pecunpay is an electronic money institution (EDE) supervised by the Bank of Spain and registered under CSB code 6707 that provides its customers with customised solutions for their means of payment programmes, giving them legal coverage and technology through integration processes based on APIs, respecting their business idea and image using a white label system to which the specific functions of each group are added, as well as purchase solutions either in the physical or the virtual world.