The UnionPay network processes some 55 trillion yuan of transactions a year from for some 5.4 billion cards in circulation. Photo: Reuters
China’s 55 trillion yuan credit card clearing market now open for competition
Central bank’s announcement finally ends UnionPay’s long-held monopoly over the domestic card market
The UnionPay network processes some 55 trillion yuan of transactions a year from for some 5.4 billion cards in circulation. Photo: Reuters
