China's UnionPay Exceeds VISA in Combined Transaction Volume

The total transaction volume via China's UnionPay system—the only domestic bank card organization in China—amounted to RMB 11.80 trillion or $1.90 trillion in the first quarter of 2015, according to the latest figures released by China UnionPay (CUP).

VISA, the largest payment company worldwide, revealed that its Q1 transactions added up to $1.75 trillion. This marks the first time China's UnionPay exceeds VISA in terms of combined trans ...

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