UnionPay International announces its partnership with MiFinity.
There are 22 overseas institutions that support UnionPay card cross border remittance services, covering 45 countries and regions including Japan, Singapore, the UK, and Russia. Since the outbreak of COVID 19, there is an increasingly need for overseas Chinese to remit to their relatives due to travel and other restrictions. In response to this, UnionPay International has been accelerating its cooperation with domestic and foreign financial institutions.
In the first half of 2020, BOC Hong Kong, EasyLink in Hong Kong, KB card in South Korea and other overseas institutions have successively introduced UnionPay cross-border remittance service. On the Chinese mainland, Bank of Inner Mongolia, Zhejiang Rural Credit Cooperative and Wuhan Rural Commercial Bank have joined other existing institutions to receive funds, making remittance hassle-free for overseas Chinese communities and speedy for UnionPay recipient card holders.
Overseas senders are also able to remit money internationally to UnionPay cards issued by domestic banks including Industrial and Commercial Bank of China, Bank of China, China Construction Bank, Bank of Communications, China Everbright Bank through services provided by MoneyGram, TransferWise, the Canadian Imperial Bank of Commerce, Russia-based Unistream, and MoovPay in Singapore.
