MCC Codes, short for Merchant Category Codes, are four-digit numbers that are used to categorize…
UnionPay, previously known as China UnionPay, is China’s bankcard brand. It was set up in 2002 in Shanghai, under the endorsement of China’s national bank. With over 7.5 billion cards issued, and near universal UnionPay acceptance in China, it has become the biggest provider of bankcards on the planet. This is greater than Visa and Mastercard combined!
With UnionPay, Chinese consumers pay with a trusted and recognizable card brand, worldwide. As of March 2019, 52 million merchants in 174 countries accept UnionPay cards.
In the US, over 80% of merchants take UnionPay, which makes UnionPay acceptance greater than American Express. UnionPay cardholders can use nearly all ATMs in the US, too.
Are you currently taking UnionPay? Let us show you how you can improve your conversions 30-90% with our integration. Combine credit and debit cards into a single easy to use gateway!
In 2018, UnionPay processed 17.69 trillion US dollars worth of transactions, up 28% from 2017. With the increase in worldwide UnionPay acceptance, we expect this figure to keep on increasing at a quick pace!
Our UnionPay Acceptance Solution
At IntegralPay, we work with a Principal Member and Global Acquirer of UnionPay International. As such, we can assist your company in including UnionPay acceptance to your online stores. Rates start at 2.5% with 48-hour settlement.
Our solution offers both credit and debit cards, tokenization, and full integration with UnionPay SecurePlus. Tokenization improves issues with card security. SecurePlus lets merchants accept both credit and check cards without a redirect to a UnionPay Hosted Payment Page. Improve your customer experience!
SecurePlus also improves security, as all debit card transactions get a SMS validation code, diminishing fraud risk and seriously decreasing chargebacks as well.