text translated from the corresponding article in chinese . may 2014 click show for important translation instructions . view a machine translated version of the chinese article . google s machine translation is a useful starting point for translations but translators must revise errors as necessary and confirm that the translation is accurate rather than simply copy pasting machine translated text into the english wikipedia . do not translate text that appears unreliable or low quality . if possible verify the text with references provided in the foreign language article . after translating translated zh must be added to the talk page to ensure copyright compliance . for more guidance see wikipedia translation . quick pass redirects here . for the toll transponder system in north carolina also called quick pass see north carolina turnpike authority . china unionpay zh nggu y nli n type public industry banking finance founded march 2002 headquarters pudong shanghai china members 296 232 in china number of employees 200 500 website www.unionpayintl.com china unionpay chinese ; pinyin zh nggu y nli n also known as unionpay chinese ; pinyin y nli n or by its abbreviation cup is a chinese financial services corporation headquartered in shanghai china . it provides bank card services and a major card scheme in mainland china . founded on march 26 2002 china unionpay is an association for china s banking card industry operating under the approval of the people s bank of china pboc central bank of china . 1 it is also the only interbank network in china excluding hong kong and macau linking the atms of all banks throughout mainland china and widely accepted by the atms in hong kong and macau . it is also an eftpos electronic funds transfer at point of sale network . contents 1 history 2 quickpass 3 use abroad 4 members 5 see also 6 references 7 external links history edit with the approval of the people s bank of china china unionpay was launched on march 26 2002 in shanghai by pboc governor dai xianglong with the industrial and commercial bank of china the agricultural bank of china the bank of china and the china construction bank serving as its first members . 2 however the concept of a unified chinese bank card network dates back to 1993 with the formation of the golden card project advocated by then chinese president jiang zemin . unionpay is considered the descendant of the golden card project although attempts at unifying china s various credit card and interbank networks have been in place since the 1990s . 3 in 2014 unionpay has been reported to be contributing to capital flight from china through poorly regulated store front operations in macau . 4 quickpass edit upon the introduction of emv chips into china unionpay cards many banks also introduced quickpass chinese a contactless payment feature similar to mastercard s paypass or visa s paywave . however unlike mastercard or visa s implementation in the case of debit cards quickpass does not operate on a trust based system but rather as a stored value card similar to girogo geldkarte in germany . payments by quickpass enabled debit cards can only be made using funds which have been withdrawn from the account and stored on the card itself as electronic cash essentially preauthorising the funds for use eliminating the possibility that an offline transaction may exceed the account holder s balance . use abroad edit unionpay cards can be used in 141 countries and regions around the world making it the third largest payment network by value of transactions processed behind visa and mastercard . 5 some unionpay credit cards are also affiliated with american express mastercard or visa and they can be used abroad as an american express mastercard or visa . unionpay debit cards however can only be used in the unionpay network and other networks that have signed contracts with unionpay . since 2006 china unionpay cards can be used in over 100 countries outside china . 6 in may 2005 discover network announced an alliance with china unionpay network . the two companies have signed a long term agreement that allows acceptance of discover network brand cards at unionpay atms and point of sale terminals in china and acceptance of china unionpay cards on the pulse network in the u.s. 7 as of november 1 2007 china unionpay cards may be accepted where discover network cards are accepted in the united states canada mexico central america and the caribbean . 8 as of early 2013 the cross acceptance agreement was expanded to support e commerce or card not present transactions . in march 2010 paypal announced a partnership with china unionpay enabling the use of paypal with unionpay member cards . in 2015 china s safe placed a 100 000 yuan annual cap on overseas unionpay cash withdrawals 9 members edit this section does not cite any sources . please help improve this section by adding citations to reliable sources . unsourced material may be challenged and removed . december 2014 learn how and when to remove this template message unionpay is the primary network of these chinese banks agricultural bank of china bank of china including its hong kong based subsidiary nanyang commercial bank bank of communications credit cards co issued with hsbc bank of ningbo bank of shanghai beijing commercial bank china construction bank china everbright bank china citic bank china merchants bank china minsheng banking corporation guangdong development bank huaxia bank credit cards co issued with deutsche bank industrial bank credit cards co issued with hang seng bank industrial and commercial bank of china icbc postal savings bank of china formerly known as the china postal savings and remittance bureau shanghai pudong development bank shenzhen development bank shenzhen ping an bank taizhou city commercial bank other unionpay affiliated organizations include municipal commercial banks as well as rural credit cooperatives . overall there are 165 financial institutions that issue unionpay cards . citation needed unionpay had partnered with jetco in hong kong and macau until january 1 2006 . as of january 2013 bank of east asia and citibank were the only banks allowed to independently issue unionpay credit cards in hong kong and the mainland . hsbc and its subsidiary hang seng bank independently issue unionpay credit cards in hong kong while they issue cards in the mainland in cooperation with local banks as noted above . deutsche bank only has co issued cards with no independently issued unionpay credit cards . the following ten foreign banks have the right to issue unionpay debit cards in china contradictory standard chartered bank bank of east asia citibank hsbc hang seng bank woori bank as of may 2009 development bank of singapore as of july 2009 hana bank as of november 2009 ocbc wing hang bank as of 2010 ocbc bank as of 2010 unionpay in other countries mitsui sumitomo bank offers a unionpay credit card in japan . united overseas bank offers a unionpay credit card in singapore . dbs bank offers a unionpay debit card in singapore . 10 kasikornbank offers a unionpay credit card in thailand bangkok bank offers a unionpay credit card in thailand krung thai bank offers a unionpay debit card in thailand see also edit atm usage fees banking in china rupay references edit overview . dai xianglong 2002 03 26 . remarks by mr. dai xianglong governor of the pbc at the opening ceremony of china unionpay . people s bank of china . retrieved 2009 09 27 . strong measures to be taken to achieve the target of connecting bank card networks this year . people s bank of china . 2002 03 27 . archived from the original on june 6 2008 . retrieved 2009 09 27 . pomfret james 11 march 2014 . special report how china s official bank card is used to smuggle money . www.reuters.com . thomson reuters . retrieved 11 march 2014 . purchase transactions worldwide . the nilson report . 2015 03 01 . retrieved 2016 03 08 . china unionpay extends coverage globally . xinhua news agency . 2006 02 02 . retrieved 2009 09 27 . china unionpay accepted in u.s. on discover pulse networks . people s bank of china . 2005 12 06 . retrieved 2009 09 27 . dead link big database of credit offers cards accepted in the united states . wistex . retrieved 2009 09 27 . http www.scmp.com business companies article 1862276 chinas safe slaps cap overseas unionpay cash withdrawal dbs unionpay launch debit card to help visitors to china . the straits times . may 17 2016 . retrieved august 22 2016 . external links edit china unionpay payment in china systems & habits v t e interbank networks by region worldwide cirrus plus africa 123 multicaixa asia 1link alto atm5 atm bersama bancnet banks atm network and customer services the benefit company cashnet cashtree china unionpay dutch bangla bank nexus encash network service electronic payment services eps expressnet ez link jetco lankapay link meps meps megalink mitr atm sharing network mnet national financial switch nationlink nets prima atm bca rupay saudi payments network shetab banking system slips treats atm bni yucho europe 4b allied irish banks banklink eufiserv euro 6000 euronet worldwide girocard bankcard servicenetz cash group cashpool groupement des cartes bancaires cb link multibanco otto . sbercard servired single euro payments area vocalink zolotaya korona north america abby accel acculink alberta regional network alert allpoint armed forces financial network ath bankmate cactus carifs cash station co op financial services discover network explore honor interac interlink jeanie money access center moneypass most nyce presto pulse shazam star sum tyme via oceania eftpos south america banco 24 horas banelco banred globalnet redbanc suiche7b book category v t e credit charge stored value and debit cards major cards american express diners club mastercard debit mastercard maestro visa visa debit visa electron regional and specialty cards bancomat bc card bca card carte bleue china unionpay dankort discover eftpos electronic payment services eps girocard interac jcb nets rupay uatp v pay meps stored value cards touch n go easycard octopus card ez link shanghai public transport card yikatong shenzhen tong suzhoutong yang cheng tong defunct cards access bankcard carte blanche choice enroute eurocard everything laser rail travel card revolution card solo switch accounts bank card number card enclosure credit card balance transfer credit limit revolving account deposit account current checking account savings account debt cash advance charge off maxed out interest grace period introductory rate universal default payment card not present transaction chargeback controlled payment number dispute interchange fee interchange fee surcharge security card security code chargeback fraud credit card fraud credit card hijacking enculturation technology automated teller machine chip and pin contactless payment credit card terminal emv interbank network magnetic stripe card smart card retrieved from https en.wikipedia.org w index.php title china unionpay & oldid 738847456 categories cooperativesbanking in chinafinancial services companies of chinacredit cardscredit card issuer associationsdebit card issuer associationsorganizations established in 2002interbank networks2002 establishments in chinahidden categories all articles with dead external linksarticles with dead external links from october 2010articles to be expanded from may 2014all articles to be expandedarticles needing translation from chinese wikipediaarticles containing simplified chinese language textarticles containing chinese language textarticles needing additional references from december 2014all articles needing additional referencesall articles with unsourced statementsarticles with unsourced statements from december 2014all self contradictory articles navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views 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