UnionPay takes aim at global footprint to rival Visa, Mastercard

As cash-rich mainlanders crowd popular tourist spots around the world, the dominant domestic payment service provider China UnionPay has been sharply expanding its global presence.

Mainland consumers would dub the bank card company "China UP", having emerged as a new symbol of China's rising profile. But the payment service giant, owned by a consortium of mainland banks led by the central bank, appears uncomfortable with its star status.

"We are big in size but we feel that the focus should be put on improving our services now," said Cai Jianbo, an executive vice-president of UnionPay who is also the chief executive of UnionPay International, the subsidiary focusing on the company's international business.

"We believe it's the hard work and first-class service, not the scale, which make a company globally renowned."

On the eastern bank of the Huangpu River in Shanghai, the headquarters of UnionPay International is located in an eight-storey office building.

Although it is dwarfed by the office buildings along the city's prime areas, most of which are owned by state-controlled enterprises, UnionPay appears unfazed as the company puts its best foot forward in going outbound.