UnionPay International pursues global growth with ACI
ACI Worldwide, a provider of real-time electronic payment and banking solutions, has formed a key strategic partnership with Shanghai-based bankcard company UnionPay International, a wholly owned subsidiary of China UnionPay.
According to a press release, the deal will allow UnionPay International to significantly grow its worldwide footprint by connecting to the ACI network of payment endpoints around the world — including both in-store and card-not-present environments using ACI Universal Payments solutions.
Additionally, the agreement will provide UnionPay International with a next-generation platform that will enable the company to bring new products and services to market with greater speed.
ACI UP solutions will enable UnionPay International to innovate in the fast-growing mobile payments space. Through its ACI implementation, UnionPay expects to accelerate the rollout of new payment services for online and mobile payments.
"This partnership is of great significance as it promotes cooperation in the development of our overseas business," UPI CEO Cai Jianbo said in the release. "We can respond faster to our customers' needs and increase the efficiency of our business operations."
"UnionPay's growth opportunity is considerable, with Chinese consumers now making more than 100 million trips outside of Greater China annually, and this number is expected to increase substantially," Dan Frate, group president of ACI On-Demand, said in the release.
Companies: ACI Worldwide