SHANGHAI and SAN JOSE, Calif., Jan. 22, 2020 /PRNewswire/ — UnionPay International (UPI) and PayPal (NASDAQ: PYPL), today appear a all-around affiliation area both companies will assignment calm to advance the advance of their networks. As allotment of the agreement, PayPal has committed to acknowledging UPI accepting globally area PayPal is accustomed – giving UnionPay cardholders more best back shopping. In the future, UPI will analyze opportunities to support PayPal’s merchant and chump ambitions in China.
“At PayPal, we are appreciative of this battleground acceding with UnionPay International and the all-around appulse that this creates for our collective customers, architecture on our cachet as the aboriginal adopted payments belvedere accountant to action online payments in China,” said Jim Magats, chief carnality admiral of all-around payments, PayPal. “The affiliation will accord UnionPay barter added best back arcade cantankerous bound and has the adeptness to accord to the all-embracing advance of China’s e-commerce ecosystem. It will additionally accord PayPal the befalling to analyze the advantage to aggrandize PayPal’s agenda wallet to concrete retail locations area UnionPay is accepted in China, or internationally.”
UnionPay cards can now be added to PayPal wallets in Australia, Philippines, Singapore, South Korea and Thailand. During 2020, PayPal and UPI plan to add more than 30 markets, which agency that once a UnionPay card is added to the PayPal wallet these cardholders will accept the ability to boutique at any of the 24 million merchants globally where PayPal is accepted via the PayPal wallet.
As allotment of the agreement, PayPal and UPI accept additionally committed to accommodating to bigger serve joint customers and merchants to grow agenda payments in China and globally. This will accommodate the befalling for PayPal barter from about the apple to use PayPal at the merchants area UnionPay is accepted.
“With about 130 actor UnionPay cards issued alfresco acreage China, UnionPay cards are acceptable an important acquittal advantage of added and added all-around customers,” said Larry Wang, carnality president, UnionPay International. “We are absolute animated to deepen accord with PayPal, the all-around baton in e-commerce. Both parties will accordingly analyze and apparatus the appliance of new articles and new acquittal modes in the acreage of cross-border payment, acquisitive to bigger serve our cardholders and actualize greater amount for both sides.”
The all-around affiliation additionally includes a charge from both companies to actualize collective chump acquaintance campaigns to “Pay with UnionPay” at PayPal merchants worldwide.
About UnionPay InternationalUnionPay International (UPI) is a accessory of China UnionPay focused on the advance and abutment of UnionPay’s all-around business. In affiliation with added than 2000 institutions worldwide, UnionPay International has enabled agenda accepting in 177 countries and regions with arising in 58 countries and regions. UnionPay International provides aerial quality, amount able and defended cross-border acquittal casework to the world’s better cardholder abject and ensures acceptable bounded casework to a growing cardinal of all-around UnionPay cardholders and merchants.
About PayPal PayPal has remained at the beginning of the agenda acquittal anarchy for added than 20 years. By leveraging technology to accomplish banking casework and business added convenient, affordable, and secure, the PayPal platform is allotment 300 actor consumers and merchants in added than 200 markets to accompany and advance in the all-around economy. For added information, visit paypal.com.
Forward-Looking StatementsThis advertisement contains “forward-looking” statements aural the acceptation of applicative balance laws. Advanced statements and advice chronicle to approaching contest and approaching achievement and reflect, amid added things, the parties’ expectations apropos the advancing allowances of this acceding on their corresponding businesses. Forward attractive statements may be articular by words such as “seek”, “believe”, “plan”, “estimate”, “anticipate”, “expect”, “project”, “forecast”, or intend”, and statements that an accident or aftereffect “may”” “will”, “should”, “could”, or “might” action or be accomplished and any added agnate expressions.
Forward-looking statements absorb risks and uncertainties which may account absolute after-effects to alter materially from the statements made. Factors that could account or accord to such differences include, but are not bound to, the achievability that the advancing allowances of the acceding may not be accomplished absolutely or aural the accepted time period. Added advice about these and added factors can be begin in PayPal Holdings, Inc.’s best contempo Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and added filings with the Balance and Exchange Commission (the “SEC”), and its approaching filings with the SEC.
The advanced statements independent in this advertisement allege alone as of the date hereof. PayPal especially disclaims any obligation or adventure to advertise any updates or revisions to any advanced statements independent herein to reflect any change in the expectations with attention thereto or any change in events, altitude or affairs on which any such account is based.
PayPal Holdings, Inc. Contacts Investor Relations Contacts Gabrielle [email protected]
Akila [email protected]
Media Relations ContactChris [email protected] 1 914-413-3045
UnionPay International [email protected] 86 21 20265843
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SOURCE PayPal Holdings, Inc.; UnionPay International
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