UnionPay International, a subsidiary of China UnionPay, has entered into an agreement with Canada’s TD Merchant Services to expand TD’s acceptance of UnionPay cards in North America.
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Under the agreement, the companies will enable 100,000 merchants to accept UnionPay’s payment methods including contactless payment with UnionPay chip cards with a three-year period, beginning later in 2015.
The deal will add to the Chinese card firm’s North American portfolio that has acceptance enabled in merchants including Tianbao Travel, Tianma Travel, Polar Bear Canada, several colleges and universities, apart from being accepted at more than 90% of ATMs and 80% of merchants in the US.
UnionPay International chief business development officer Larry Wang said: "As the UnionPay network continues to expand in the overseas market and the services keep improving, UnionPay cards have become outbound Chinese travellers’ first payment choice and are currently accepted by over 80% of the local ATMs and tens of thousands of merchants in Canada."
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By GlobalData
