Planet Payment and China UnionPay Sign Global Processing Agreement
Planet Payment, a multi-currency payment and data processor, and China UnionPay, a bankcard association, have announced Planet Payment’s registration as a worldwide third party service provider of China UnionPay. Through this registration, Planet Payment can provide processing support for China UnionPay’s credit and debit cards in both card present and card-not-present (CNP) environments directly to banks and acquirers on a worldwide basis.
“China UnionPay is one of the world’s leading bankcard schemes,” said Philip Beck, chairman and chief executive officer of Planet Payment. “With this new agreement, our acquirer or processor customers globally can accept UnionPay credit and PIN debit cards, enabling merchants to sell more goods and services to Chinese cardholders and tapping into one of the largest markets for potential new customers.”