Kiwibank and UnionPay International combine to increase UnionPay card acceptance in New Zealand, boosting digital payments.
Kiwibank and UnionPay International (UPI) have partnered to make it possible for approved shops to accept UnionPay cards for in-person purchases. As part of this partnership, Kiwibank clients will also receive UnionPay mobile QuickPass, which will improve the convenience and security of transactions.
The strategic alliance increases UnionPay card acceptance in a variety of New Zealand industries, including lodging, travel, entertainment, and retail.
This partnership demonstrates UPI and Kiwibank’s dedication to providing better payment solutions and streamlined customer experiences. With the help of this program, New Zealand’s acceptance rates for UnionPay cards have increased to 95% and for contactless terminals to 75%.
The value of digital payment transactions in New Zealand is predicted to increase from six billion in 2017 to 22 billion by 2027, with mobile POS payments forecast to increase from just under one billion to four billion during the same time period, according to Statista Market Insights.
“Big step in our global outreach”
UnionPay International’s New Zealand Branch country manager, Carlos Li, said: “Our cooperation with Kiwibank marks a big step in our global outreach. We’re delivering unrivaled payment experiences for local customers while increasing payment options for businesses and strengthening New Zealand’s connections to international payment networks. Through this partnership, New Zealand’s payments environment will be improved, giving consumers and companies more payment options.
General Manager of Kiwibank Business Banking Joanna Greaves 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.”
The global reach of UnionPay International includes 1.76 million ATMs and nearly 63 million merchants across 181 different countries and regions. UnionPay has operations outside of mainland China and has distributed more than 200 million cards across 78 nations and territories.
Additionally, 99 nations and territories now accept UnionPay’s mobile services, which include QuickPass and QR code payment. The company’s digital footprint encompasses more than 170 e-wallets in 30 countries, as well as integration with 22 million online retailers in 200 non-Mainland Chinese nations and regions.
