17/10 22:13
 

UnionPay International Accelerates the Layout of Businesses in Eastern Europe and Central Asia

 On October 15 and 16, UnionPay International held the Conference on Regional Cooperation in Eastern Europe and Central Asia in Almaty, Kazakhstan, to develop a platform for communication and cooperation for major institutions within the region. Senior managers of dozens of major institutions in the region participated in the conference, including heads of People’s Savings Bank of Kazakhstan, Kazakhstan Commercial Bank and Russian Agricultural Bank. Cai Jianbo, CEO of UnionPay International, and Kairat Kelimbetov, President of Kazakhstan Central Bank, also attended the conference.

To date, UnionPay International has carried out businesses in 9 countries of Eastern Europe and Central Asia, namely Russia, Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan, Belarus, Georgia, Azerbaijan and Armenia. Nearly 50 institutions in this region have accepted or issued UnionPay cards. The institutions participated in this conference include the major financial institutions in all these markets.

According to Cai Jianbo, the aim of this conference is to build a platform for cooperation on the basis of the relatively widespread UnionPay card businesses that have been carried out in this region. This platform is designed to safeguard the extension of UnionPay card businesses, to accelerate the landing of card acceptance and card issuing programs in this region, and to further support “the Belt and Road Initiative.” In the meantime, UnionPay International will keep improving the operation mechanism of this platform, make preparations for the establishment of the regional council, as well as promote business development by taking full advantage of its membership system.

Speaking of the future development of UnionPay card businesses in Eastern Europe and Central Asia, Cai Jianbo says that UnionPay International is ready to participate in the upgrade of payment industry in this region to create values for and to share the fruit of development with partner institutions. Firstly, UnionPay International will take full advantage of its membership system to strengthen its cooperation with partner institutions in order to achieve mutual benefits and win-win results. Secondly, it will design new UnionPay card products with special features by introducing innovations such as mobile payment, for the purpose of bringing in revenue from new areas for partner institutions. Thirdly, it will raise the brand awareness and influence of UnionPay in this region to accelerate local card issuance and usage.

Kairat Kelimbetov, President of Kazakhstan Central Bank, says that he welcomes UnionPay International to carry out businesses in Kazakhstan and that he encourages Kazakh banks to accelerate their development of UnionPay card businesses to satisfy the increasing cross-border payment demands between China and Kazakhstan. Senior managers from banks in Kazakhstan, Russia and Kyrgyzstan all believe that, as the trade contacts between this region and China become increasingly frequent, the issuing scale of UnionPay cards will be further enlarged in the future so as to let the local residents enjoy convenient services offered by UnionPay.

Currently, about 50 of the 60 or so countries and regions involved in “the Belt and Road Initiative” have carried out UnionPay card businesses. For instance, nearly 70% of ATMs and over 50% of merchants in Kazakhstan have accepted UnionPay cards. UnionPay cards can also be used at 70% of ATMs and about 90% of POS terminals in Pakistan. In the United Arab Emirates, all merchants accept UnionPay cards while the coverage of ATMs will be enhanced from 50% to 100% within this year. The acceptance of UnionPay cards in Azerbaijan and Turkey are also expanding.

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