What is UnionPay and what is its function?

China UnionPay (English: China UnionPay), the full name of China UnionPay Co., Ltd., referred to as UnionPay. China UnionPay is a joint-stock financial service institution approved by the People's Bank of China and initiated by more than 80 financial institutions in Chinese mainland. The purpose of its establishment is to establish and operate the inter-bank information exchange network of bank cards in China, so as to realize the universal networking of bank cards in China.

Function:

UnionPay standard is universal.

UnionPay standard cards are issued in accordance with the business and technical standards of China UnionPay and conform to ISO international standards. Cardholders can swipe their cards at any bank card acceptance point in China and at ATMs and UnionPay merchants in 90 countries and regions abroad, making it easy to withdraw money and spend money.

Overseas cards are economical and affordable.

With the UnionPay standard card, you can use the UnionPay network to swipe your card for consumption or ATM withdrawal overseas, and use foreign currency to debit RMB, so as to avoid multiple exchange losses. You don't need to purchase foreign exchange for repayment, and you don't need to pay the currency conversion fee ranging from 1-2%. The ATM withdrawal fee is relatively low, and you have the opportunity to enjoy UnionPay preferential activities, which is convenient and affordable.

Consumption abroad has no worries about tax refund.

If you use the UnionPay standard card to spend in more than 250,000 stores around the world, you can get the refunded consumption tax through your own UnionPay standard card by completing the corresponding tax refund process. The tax refund is directly converted from the currency of the place of consumption into RMB, which saves the trouble of currency exchange and the currency conversion fee of 1%-2%, so the tax refund cost is lower.

24-hour quality service

The domestic customer service telephone number of China UnionPay is 955 16, and many overseas countries have also opened free service hotlines. UnionPay standard card holders can get in touch with China UnionPay customer service center directly by calling the national free service hotline, and enjoy fast and high-quality 24-hour service.

Merchant offers continue.

UnionPay has carefully selected more than 10,000 preferential merchants at home and abroad for you. With the UnionPay standard card, you can enjoy many discounts such as food, clothing, housing and transportation, so that you can experience VIP courtesy all the time, and even have wonderful activities all year round, offering surprise gifts with colorful gifts.