UnionPay merchant acceptance rate in Finland is about to reach 70%
The largest acquirer in Northern Europe accepts UnionPay cards. Source: shutterstock.com
UnionPay International announced today that it has collaborated with Nets, the largest acquirer in Northern Europe, to enable all Nets’ merchants in Finland to accept UnionPay cards. With this collaboration, the UnionPay merchant acceptance rate in Finland will reach 70%.
With Europe becoming the second-largest tourism destination for Chinese tourists, an increasing number of Chinese travelers are visiting North Europe. During the first 8 months of 2019, about 150,000 Chinese tourists visited Finland. The local government also plans to build Finland into the hub for Chinese tourists visiting Northern Europe. So far, more than 15,000 merchants in Finland have accepted UnionPay cards, and the majority of them are tourism-related merchants. Helsinki Airport, for instance, is one of the first airports in Europe that have started accepting UnionPay. Now, the official website of Finnair also accepts UnionPay cards for online booking of flight tickets.
Europe is a key region in UnionPay’s internationalization. In recent years, UnionPay cardholders visiting Europe are traveling to more destinations and spending in diverse sectors. Based on its expanding acceptance, UnionPay will further accelerate the localization of its business in Europe and bring more card products as well as innovative products to local consumers, the company said on its website.
Currently, UnionPay is accepted in 90% of European countries and regions with an overall regional acceptance rate up to 65%. In Northern Europe, over 150,000 merchants in Denmark, Sweden, Finland, Norway and Iceland now accept UnionPay cards. UnionPay’s acceptance rate in Denmark has exceeded 90%, and over 50% of merchants in Sweden accept UnionPay.
SEE ALSO: Throwback Thursday: Chinese payment giant UnionPay
