UnionPay International has signed an agreement with Portugal-based acquirer Unicre to enable all the merchants in the Unicre network to accept UnionPay cards in the country.
As per the agreement, approximately 40% of the merchants in Portugal will accept China UnionPay cards.
Unicre has enabled 40,000 of its POS terminals to accept UnionPay cards. With this agreement, Unicre will extend the acceptance of UnionPay’s cards at its remaining 40,000 POS terminals.
China UnionPay Chairman Ge Huayong said the Chinese firm plans to enable all POS terminals in Portugal to accept UnionPay cards by the end of 2017 and make breakthroughs in mobile QuickPass acceptance, local card issuance and online payment.
Unicre CEO Luis Flores said Unicre will deepen cooperation with UnionPay International to let more local merchants accept UnionPay cards in order to offer more convenient financial services to Chinese visitors.
Additionally, accepting UnionPay also allows Portuguese merchants attract more customers, and thus realise a win-win result, Flores added.