AIB Merchant Services (AIBMS), a joint venture between Allied Irish Banks and First Data, has added Chinese card UnionPay to its list of available card schemes.
The deal will enable Irish businesses and retailers accept transactions made using UnionPay debit and credit cards.
The deal is aimed enabling Irish businesses tap into the spending power of Chinese visitors to Ireland.
Currently there are almost as many UnionPay cards globally in circulation as the two leading payment cards combined and UnionPay is projected to grow 51% by 2017, according to Nilson report released in November 2013.
As the first Irish acquirer to offer UnionPay card acceptance, AIBMS believes Irish merchants are poised to increase business from the Chinese tourist trade.