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Fintech & Ecommerce

PayPal and UnionPay sign joint agreement?

Jan 24, 2020

PayPal’s users in Australia, Philippines, Singapore, South Korea, and Thailand can now add UnionPay cards in their wallets

PayPal and UnionPay

PayPal and UnionPay sign joint agreement. Source: shutterstock.com

UnionPay and PayPal entered into a global partnership to boost their networks’ growth. According to the agreement, PayPal is responsible for supporting UnionPay acceptance wherever it is accepted worldwide. It means that UnionPay cards’ owners get more options while they’re shopping. Henceforth, UnionPay will look for ways to support PayPal’s consumer interests in China.

Fintech companies aim to expand to more than 30 markets in the current year. This way, after a UnionPay card is added to the PayPal wallet, consumers will be able to shop at any of the 24 million retailers worldwide.

With about 130 million UnionPay cards issued outside mainland China, UnionPay cards are becoming an important payment option for more and more global customers. We are very glad to deepen collaboration with PayPal, the global leader in e-commerce. Both parties will jointly explore and implement the application of new products and new payment modes in the field of cross-border payment, hoping to better serve our cardholders and create greater value for both sides
Larry Wang, vice president, UnionPay International

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Our editorial team delivers daily news and insights on the global payment industry, covering fintech innovations, worldwide payment methods, and modern payment options.