https://businesschief.asia/corporate-finance/splitit-partners-worlds-largest-card-network-unionpayGlobal payment technology company Splitit partners with UnionPay International, part of China Union Pay, world’s largest card network with 9bn cardholders..
Splitit, a global payment technology company, has announced a global partnership with
UnionPay International, part of China UnionPay, the provider of bank card services and a major card scheme in mainland China. This marks a significant expansion into a large Asia Pacific shopper base.
UnionPay International will integrate Splitit into its network, giving UnionPay cardholders and those accepting UnionPay the chance to use Splitit’s installment payments product.
UnionPay has expanded to 180 countries and regions, covering 55 million merchants.Outside the Chinese Mainland, UnionPay is accepted at over 32million merchants. Over 9 billion UnionPay cards (debit and credit) are issued in 68 countries and regions, with over 150 million issued outside mainland China.I am a bit confused with these figures. What do they really mean?
Does it mean that these 32 million merchants, the minute that SPT inter grades with Union Pay and assuming they also accept Visa/MasterCard, SPT will benefit as well from increased MSV?
Any thoughts/comments will be much appreciated!
