The MOU provides an important platform for CUP and Visa, two payments networks, to work together to strengthen and create new value for the bank card ecosystem benefiting consumers, merchants, financial institutions, and technology partners. Key areas of cooperation under the MOU are payments security, innovation and financial inclusion.
As a bankcard network, China UnionPay operates China’s national inter-bank clearing and settlement system, develops the worldwide UnionPay Card acceptance network, promotes the issuance and usage of the UnionPay Card as well as other innovative payment solutions, so as to provide quality, efficient and safe payment services to cardholders.
Visa is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments.
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