ACI Worldwide, the payments company, announced Thursday (March 22) it has inked a strategic partnership with Shanghai-based bank card company UnionPay International.
A press release said that by connecting to ACI’s global network of payment endpoints, UnionPay is set to see its worldwide footprint grow “significantly.” The partnership also gives UnionPay a next-generation foundational platform via new products and services that can be quickly brought to the market.
“Since the start of this year, UnionPay has been focused on expanding our business by coming up with innovative ideas, collaborating with new organizations and operating using new go-to-market strategies,” said Cai Jianbo, CEO of UnionPay. “This partnership is of great significance, as it promotes cooperation in the development of our overseas business. Organizations and merchants have transformed their systems and can now rely on ACI’s business and technical strength in the global financial sector to further accelerate the development of innovative products. We can respond faster to our customers’ needs and increase the efficiency of our business operations.”
UnionPay International, which is a unit of China’s UnionPay, serves more than 7 billion UnionPay cardholders around the world, and is the preferred payment brand for Chinese travelers.
ACI noted that UnionPay, through its ACI implementation, is preparing to accelerate the launch of new payment services for online and mobile payments.
“We are proud to partner with an industry leader such as UnionPay to serve the payment preferences of its customers through ACI’s expansive reach, and loyal customer base of merchants and financial institutions,” said Dan Frate, group president for ACI On-Demand, ACI Worldwide. “And with the extensive capabilities delivered by our UP solutions, we are uniquely qualified to support UnionPay’s diverse needs, long-term growth and global ambitions.
“UnionPay’s growth opportunity is considerable, with Chinese consumers now making more than 100 million trips outside of Greater China annually, and this number is expected to increase substantially,” he added.