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Based on total value of payment transactions China UnionPay is the largest card payment organisation (debit and credit cards combined) in the world offering mobile and online payments, ahead of Visa and Mastercard!

Also known as China UnionPay (CUP) or by its abbreviation UPI internationally, is a Chinese financial services corporation.

It was founded in 2002 and provides bank card services and a major card scheme in mainland China. The CUP is an association for China’s banking card industry, operating under the approval of the People’s Bank of China (central bank of China).

It is also the only interbank network in China that links all the automatic teller machine (ATMs) of all banks throughout the country. It is also an electronic funds transfer at point of sale (EFTPOS) network.