UnionPay partners with VTB24 to boost card acceptance in Russia

UnionPay International, a wholly-owned subsidiary of China UnionPay, has extended its cooperation with Russia-based bank VTB24

UnionPay partners with VTB24 to boost card acceptance in Russia

This is to enable 120,000 POS terminals in the country to accept UnionPay cards.

Under the new agreement, most of the VTB24’s POS terminals will also support mobile QuickPass, UnionPay’s new mobile payment technology that allow users to transact using their smartphone.

Earlier, the bank has enabled all of its ATMs to accept UnionPay cards.

With the latest collaboration, top four banks in Russia are accepting UnionPay cards. UnionPay will be available at over 80% of the local merchants and ATMs by the end of 2017.

According to UnionPay, the latest collaboration will provide Chinese tourists with convenient payment service, while promoting more local residents to sign up for and use UnionPay cards.

UnionPay cards can be used online and offline. Over 500,000 POS terminals and 90,000 ATMs accept UnionPay cards, and some merchant also support mobile QuickPass in Russia.