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Visa & MC Face Greater Threat From Other Networks as They Collaborate

UnionPay collaborated with JCB in 2003 for acceptance of JCB cards in China; with Discover in 2005 for access to Discover’s PULSE network; with Amex in 2010 for expansion of cooperative business activities.

Similarly, NPCI (National Payments Corporation of India) collaborated with Discover in 2010 for acceptance of Discover cards in India and access to the PULSE network; and recently with UnionPay and JCB for acceptance of UnionPay and JCB cards in India respectively.

Not only are these networks growing at a very fast pace, they are also collaborating and working together to allow customers to transact on each other's network freely. As an example, very soon, a Chinese citizen with a UnionPay card can shop easily in India and use her card to pay at all the locations where Rupay (NPCI) is accepted without incurring hefty fees and withdraw cash in the local currency at ATMs and swipe for payments.

As a result of this expansion over last few years, UnionPay is already used in 125 countries and regions with a good degree of ATM and debit card acceptance. Wh ...

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