Global Payments Asia-Pacific, a joint venture between the US based Global Payments and HSBC, has launched China UnionPay card acquiring service in China.
Global Payments will offer the new service to merchants in partnership with HSBC. The service will be first launched in Beijing and other parts of China will be added in the future.
The new service will enable merchants in Beijing to accept China UnionPay cards, along with Visa, MasterCard, American Express and JCB cards issued outside of China using services provided by Global Payments service.
With the launch of China UnionPay card acquiring service, Global Payments and HSBC will be able to process both domestic and foreign card transactions via a common point-of-sale (POS) system.
Global Payments Asia Pacific President Ian Courtnage said this is a significant milestone and breakthrough for Global Payments in the fast-expanding payments market in China.
“We continue to work closely with China UnionPay to support the expansion of China UnionPay card acceptance service,” Courtnage said.