For the past several years, China UnionPay and American Express have cooperated within China where American Express Cards run on the China UnionPay network. This new memorandum of understanding will establish working teams to develop potential new areas of cooperation between the two companies within China and in markets outside of China.
China UnionPay, established in 2002, is the bankcard association in China. China UnionPay is responsible for operating unified inter-bank clearing and settlement system in China and developing the international acceptance network for UnionPay card.
American Express is a global services company, providing customers with access to products, insights and experiences. Since 1996, American Express has been pursuing a strategy of opening its merchant network and card product portfolio to third party issuers around the world.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now