LONDON–(BUSINESS WIRE)–Allied Wallet, a globally leading provider of mainstream online payment processing, multi-currency merchant services, and a PCI Level 1 secured payment gateway, is partnered with China UnionPay in an effort to expand in Europe and offer an Allied Wallet-branded China UnionPay card.
China UnionPay is the world’s largest payment card issuer. In its domestic market, it has already issued over 6 billion cards – more than MasterCard and Visa combined.
China UnionPay cards are growing in popularity across the world, especially in Europe. Allied Wallet is partnering with China UnionPay to supply the demand for China UnionPay cards and aid them in their growth across the world.
As early as next month, China UnionPay and Allied Wallet will begin issuing cards for European consumers. They may use these while traveling in Asia to simplify and secure their spending.
Though they plan to expand this effort, travelers going abroad are not the main target.
“In Europe, we want to target local customers in the domestic market, not only people traveling to Asia,” said Zhilhong Wei, head of UnionPay in Europe. They plan to issue UnionPay-branded cards across Europe as early as December.
“We’re proud to be partnered with China UnionPay to issue these co-branded cards,” said Allied Wallet CEO Andy Khawaja. “[China UnionPay] cards are accepted by over 40 million merchants in the world and in millions of ATMs. We look forward to giving more people an opportunity to use these cards.”
Thanks to companies like Allied Wallet, China UnionPay will not need a license for its European expansion. Allied Wallet will be handling card issuing and the transactions for the co-branded cards.
This new partnership should prove to be beneficial for all parties involved and offer consumers a new means for making payments all over the world – and thanks to China UnionPay’s partnerships with companies like Allied Wallet, the cards will be available very soon.
They plan to issue an estimated 10 million cards in the first year of its release.
About Allied Wallet:
Allied Wallet continues to revolutionize the e-commerce industry by introducing new and innovative payment processing solutions for online merchants, enabling them to send and receive global payments. With PCI compliant merchant services for nearly any business size, Allied Wallet provides a state-of-the-art payment gateway to optimize online transactions. Please visit www.alliedwallet.com.