UnionPay International announced its cooperation with Cuallix, an issuer in Mexico, in issuing the first UnionPay card (card number starting with 62) in the market over the next three months. This will provide a new payment option for the Mexican residents’ daily spending and international traveling. Shi Wenchao, President of China UnionPay and Francisco Lopez, CEO of Cuallix attended the ceremony.
China is the second largest trade partner of Mexico, and the two countries have established a comprehensive strategic partnership of cooperation. With the enhancement of personnel exchange between China and Mexico, UnionPay’s business in Mexico has witnessed a rapid development. Now, more than 80% of ATMs and 100,000 merchants in Mexico accept UnionPay cards, covering airports, coach stations, supermarkets, shopping malls, and tourist attractions frequently visited by tourists. In the next three years, UnionPay’s acceptance footprint will cover 100% of the local ATMs and 80% of the POS terminals. The improvement of the acceptance environment of the UnionPay card will effectively promote its issuance there.
As a major non-bank financial service institution in Mexico, Cuallix has set branches in over 60 cities in the US and Mexico. In Mexico, Cuallix has cooperated with local teachers’ unions, district governments as well as universities, and has issued signature prepaid cards through these channels. At present, it serves 100,000 cardholders. This cooperation between UnionPay International and Cuallix will enable the issuance of UnionPay prepaid cards and credit cards, which can be used in UnionPay’s global acceptance network in 157 countries and regions. These cards also support online payment.
Shi Wenchao said, since UnionPay’s presence in Mexico in 2006, we have kept enhancing our cooperation with local mainstream institutions. On the one hand, we keep expanding the local usage channels of UnionPay cards to satisfy the card using demands of UnionPay cardholders visiting Mexico. On the other, drawing on our experience in product and service development, we keep developing tailored products for local institutions and clients, and seek for the opportunities for large-scale card issuance. UnionPay and Cuallix share commonality in business development in Latin American. Therefore, we decide to start our cooperation in Mexico, and further extend our card issuance cooperation to other Latin American countries and regions, making UnionPay cards a payment option favored by regional residents.
Francisco Lopez said, Cuallix is very glad to be the first Mexican institution to issue UnionPay cards. This will not only deliver more opportunities to Cuallix, but also offer a new payment option for the local residents. In the future, we will join hands with more partners in promoting UnionPay card products. We are looking forward to expanding UnionPay’s business to more countries and regions so as to realize all-win result.
Latin America is gaining popularity among Chinese tourists who love “cultural tours”. UnionPay cards can be used conveniently in 12 countries and regions in Latin America, including Mexico, Brazil, Argentina, Peru, Bahamas, Surinam and Cuba. Currently, UnionPay International is dedicated to improving the acceptance environment of UnionPay cards in the region, to provide more convenient and secure payment services. It is also actively promoting card issuance in the markets with such demands.