China's digital payment services go global
China's digital payment sector expanded last year to cover more global clients and shore up the domestic real economy, according to a report by China UnionPay, the country's largest bank card payment processor, Xinhua reported this week.
China's digital payment services go global
New Age – New Road

China's digital payment services go global

Photo: iStock
Eurasia 15/07/2023 06:00

China's digital payment sector expanded last year to cover more global clients and shore up the domestic real economy, according to a report by China UnionPay, the country's largest bank card payment processor, Xinhua reported this week.

In 2022, online payment services provided by China Unionpay extended to over 22 million clients in over 200 countries and regions overseas, said the annual report on the development of China's bank card industry, according to the news agency.
Photo: iStock

Over 41 million people across China received consumption vouchers from China Unionpay's payment app last year, which brought about transactions worth nearly 50 billion yuan (about 6.9 billion U.S. dollars).

The company's offline payment network reached out to 38 million corporate clients in 181 countries and regions worldwide, as Chinese payment companies sought to enhance their global presence through means such as creating cross-border payment products and services, the report revealed.

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