UnionPay International (UPI) has joined forces with Kiwibank to enable eligible merchants to accept UnionPay cards for in-person payments. This collaboration also includes the provision of UnionPay mobile QuickPass to Kiwibank customers, enhancing the security and convenience of transactions.
The strategic partnership expands UnionPay card acceptance across diverse sectors in New Zealand, ranging from food and drinks to accommodation, transportation, entertainment and shopping.
This collaboration underscores the commitment of both UPI and Kiwibank to offer enhanced payment options and seamless customer experiences. With this initiative, UnionPay card acceptance in New Zealand has surged to 95 per cent and contactless terminal acceptance rates have reached 75 per cent.
According to Statista Market Insights, the value of digital payment transactions in New Zealand is anticipated to grow from six billion in 2017 to 22 billion by 2027, with mobile POS payments expected to rise from just under one billion to four billion during the same period.
Carlos Li, country manager of UnionPay International New Zealand Branch, commented: “Our partnership with Kiwibank is a significant step in our global outreach. We’re expanding payment options for merchants and enhancing New Zealand‘s ties to global payment systems, introducing unparalleled payment experiences for local consumers. This collaboration will enrich the payments landscape in New Zealand, offering businesses and consumers more choices in the payment experience.”
While Joanna Greaves, general manager of Kiwibank Business Banking, added: “The partnership with UnionPay International expands the acceptance opportunities for Kiwibank’s merchants who will now be able to accept UnionPay cards when presented for payment.”
UnionPay International’s global presence spans 181 countries and regions, covering over 63 million merchants and 1.76 million ATMs. With a presence outside mainland China, UnionPay has issued over 200 million cards in 78 countries and regions.
Furthermore, UnionPay’s mobile services, which encompass QuickPass and QR code payment, have gained acceptance in 99 countries and regions. The company’s digital footprint extends to over 170 e-wallets across 30 countries, along with integration with 22 million online merchants from 200 countries and regions outside mainland China.
