Unionpay International Teams up With Payment Services Provider Nets

Global payment company UnionPay has reached an agreement with European payment services provider Nets that will allow UnionPay to expand its contactless acceptance throughout the Nordic region, according to a Tuesday (Nov. 23) press release.

The partnership will further expand UnionPay’s more than 100,000 point-of-service terminals in Denmark, Sweden, and Norway. In addition, the effort will advance the acceptance of UnionPay to more than 6,000 ATMs in Denmark, Sweden, Norway and Finland – resulting in nearly full ATM acceptance across the entire region, according to the release.

UnionPay and Nets also expect to forge a new agreement to increase UnionPay's existing POS merchant acceptance rate in Finland.

As part of the collaborative effort, which began in 2007, UnionPay cardholders using their card or mobile phone to pay at POS terminals in the Nordic region can do so contact-free. In 2019, more than 1.5 million UnionPay cardholders visited the region, according to the announcement.

UnionPay’s global network has expanded to 180 countries and regions with issuance in 70 countries and regions, the release states.

“Expanding the array of payment means at the point of sale enables merchants to better accommodate the payment preferences of their customers, which is known to be an important revenue driver,” said Robert Hoffmann, Nets CEO of merchant services. “As UnionPay cardholders start to return, merchants will be well set to provide them with a preferred and easy payment option.”

In addition to its partnership with Nets, UnionPay last month announced a joint effort with AltPayNet to provide cross-border B2B payment services for the world’s biggest cardholder base, as PYMNTS reported. As part of that undertaking, the platform helps with cross-border online payments, online collection and order management, and also supports direct collection and payment.

Related news: AltPayNet, UnionPay Team up on Cross-Border Payment Solutions

In other news, in August, UnionPay launched an effort to provide financial support via tuition refunds to international students studying in Australia. The company partners with more than 2,400 institutions in 180 countries and regions, in addition to more than 63 million retailers worldwide who accept UnionPay mobile payments.

See also: China’s UnionPay Provides Tuition Refunds to International Students Studying in Australia