• FOUNDING YEAR: 2012
    LOCATION:
    China
    REGION:
    Shanghai Shi Shanghai Shi
    Last Update:
    2 Jul, 2019

Description

FOCUS

PRODUCTS & SERVICES:
Online payment network and processing platform for individuals and retail businesses. QuickPass mobile payment platform: It is a QR code based platform that allows consumers to make payments at offline retailer outlets. Unionpay cards: It offers prepaid cards products to support cross-border payments for consumers.
REVENUE MODEL:
Viewable by subscribers only
MAIN CLIENTS:
Online & in-store merchants, Individuals
EXISTING PARTNERSHIPS:
In June 2017, the company partnered with Askari Bank to provide UnionPay QuickPass (NFC) and EMV chip-enabled debit cards in Pakistan. Some of the other partners' nab, CitiBank, KartaSi, Discover, Travelx, Bank of Chaina, etc.

PEOPLE

FOUNDERS:
Wenchao Shi
Board Members and Advisors:
Samer Soliman, Joseph Yam
NUMBER OF EMPLOYEES:
51-200
INVESTORS:
SAIF Partners China
KEY EMPLOYEES:
Cai Jianbo (CEO)

TRACTION

TRANSACTIONS COMMENT:
In 2015, CUP reached 36.4% of market share with more than 260 million Internet and mobile payment users, and transaction value exceeding $1.9 trillion globally.
COMMENT:
At present, 65 institutions in 17 overseas countries and regions have issued UnionPay card locally, with an accumulated card issuance volume of more than 10 million pieces. It has about 400 domestic and overseas associate members, covering 140 countries/regions. Recently, the company was announced that the mobile QuickPass service accepted at nearly 500,000 POS terminals in markets outside mainland China. The markets include: Hong Kong, Macau, Taiwan, Singapore, Malaysia, Australia, Canada, Russia and the UAE (June 2017).

MOMENTUM

Insufficient information for accurate analysis

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