About China UnionPay & UnionPay International:
UnionPay (Chinese: 银联; pinyin: Yínlián), also known as China UnionPay (Chinese: 中国银联; pinyin: Zhōngguó Yínlián) or by its abbreviation, CUP, is a Chinese financial services corporation headquartered in Shanghai, China. It provides bank card services and is the only major card scheme in mainland China. Founded on 26 March 2002, China UnionPay is an association for China's banking card industry, operating under the approval of the People's Bank of China (PBOC, central bank of China). It is also the only interbank network in China that links all the automatic teller machine (ATMs) of all banks throughout the country. It is also an electronic funds transfer at point of sale (EFTPOS) network.
UnionPay International (UPI) is a subsidiary of China UnionPay focused on the growth and support of UnionPay’s global business. In partnership with more than 2000 institutions worldwide, UnionPay International has enabled card acceptance in 174 countries and regions with issuance in 52 countries and regions. UnionPay International provides high quality, cost effective and secure cross-border payment services to the world’s largest cardholder base and ensures convenient local services to a growing number of global UnionPay cardholders and merchants.UnionPay is the largest card payment organization in the world by card issuance with 7.5 billion CUP branded debit, prepaid and credit cards and also the largest payment network by a total card spend volume of $17.69 trillion (USD) as of 2018.