China’s UnionPay International has signed a deal with RED, an acquirer in Cuba, to issue its first international payment card in the country.

The newly launched card, dubbed UnionPay-RED.S.A Card, will be issued through RED’s partner BISCA.

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The card, which can be used not only in Cuba but also across the UnionPay network in 157 nations and regions, will choose RED as the routing option in Cuba and UnionPay outside Cuba

China UnionPay president Shi Wenchao said: "This card-issuing cooperation with RED.S.A marks a significant breakthrough of UnionPay in Cuban market. UnionPay International not only continues to offer convenient and secure services to UnionPay cardholders visiting Cuba but will also provide local residents with a new choice of payment for their daily life and international traveling.

"Next, we will proactively push forward the implementation of the card-issuing project with our partners, and will discuss future cooperation in more fields like chip card migration, and support the enhancement of the e-payment service level in Cuban market."

RED president Jorge Sánchez said: "UnionPay International is a very important partner of RED.S.A. We have founded a good basis for cooperation. I hope that we can carry out cooperation in more fields in the future to jointly improve our services to clients and bring more opportunities to local merchants."

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The two nations have close economic, trade and personnel exchanges between each other. More than 80 China-funded organizations are currently residing in Cuba.