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UnionPay, established in 2002, is the national bankcard association in China. With its pivotal role in China’s bankcard industry, UnionPay is responsible for operating the unified inter-bank clearing and settlement system in China and developing the international acceptance network for UnionPay cards. By collaborating with various parties of the Bandcard industry, UnionPay has greatly boosted the development of China’s bankcard industry. To date, the total number of UnionPay cards issued worldwide has exceeded 2.1 billion; in 2009, the number of UnionPay card inter-bank transactions reached 7 billion totaling USD 1.1 trillion; the number of merchants, POS terminals and ATMs reached 2.13 million, 2.88 million and 930 thousand respectively. UnionPay has also established partnerships with around 400 financial institutions all over the world. As of now, UnionPay card international acceptance network covers all of China, and also extended to more than 90 countries and regions in 5 continents. Over 10 of them, including Japan, Korea, Singapore, Russia andMongolia have issued UnionPay cards.

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