Wirecard expands teamup with UnionPay for growth in China

Wirecard has signed with UnionPay an agreement that will support UnionPay’s ongoing international expansion and Wirecard’s growth in China and with Chinese businesses.

The partnership will focus on expanding the global acceptance of UnionPay as a digital payment method across all channels. In addition, the partnership will also launch a number of issuing projects, including corporate solutions such as payout products and SCP (Supplier and Commission Payments), and consumer-oriented products in the form of digital wallets for incoming tourists to China.

“UnionPay will be one of our key alliances in Asia,” said Georg von Waldenfels, EVP Group Business Development at Wirecard.

“As a major tourist and business destination, China receives hundreds of millions of travellers every year, which means that the scope of our solutions will also address non-Chinese nationals and enable them to pay with UnionPay nationwide,” Von Wandelfels said.

Larry Wang, VP at UnionPay International, said that through our global strategic partnership with Wirecard, they plan to continue driving their international expansion.

The initial stage of the partnership will focus on launching additional projects in Asia-Pacific, Europe and the Unite States, where both partners already work together for several years. 

In particular, point of sale and issuing solutions will merge with the existing online payment business. Additionally, a consumer solution for the upcoming 2022 Winter Olympics in Beijing is being planned to take advantage of the large number of tourists who will visit the country.