China’s UnionPay International has collaborated with Serbian state-owned lender Postal Savings Bank in a step to provide its services in the country and strengthen its footprint in Europe.
Following the collaboration, all the ATMs of the Postal Savings Bank will accept UnionPay cards, while its POS terminals will accept UnionPay from the third quarter of this year.
The collaboration is expected to ensure smooth services for all UnionPay cardholders who visit Serbia.
Both the entities have worked together, with the support of National Bank of Serbia, to optimise the acceptance UnionPay cards at the ATMs.
About 300 ATM terminals are said to accept UnionPay cards.
In November last year, UnionPay signed an agreement with National Bank of Serbia to enable full acceptance of UnionPay cards in Serbia.
They also agreed to cooperate on various other areas including local card issuance, chip standard licensing and alternative payment options.
Serbia serves as an important country under China’s Belt and Road initiative.
Currently, UnionPay cards are accepted by more than 3 million merchants in 39 European countries.
The acceptance environment of the UnionPay cards in 16 Central and Eastern European countries, which fall along the Belt and Road, were stated to be growing.