UnionPay International (UPI) has established a partnership with Trip.com, a global virtual travel agency.
As a result of the cooperation of the mentioned companies, UnionPay cardholders will have access to advanced payment financial operations. This partnership was established at a time when the process of gradual recovery of the cross-border tourism market was being recorded.
The cooperation of the companies extends to all major transaction currencies on global sites Trip.com which accept UnionPay payments. The partnership provides for the possibility of making financial operations as part of trips to Singapore, Thailand, Hong Kong, Malaysia, South Korea, Vietnam, the Philippines, Indonesia, and other countries with which the mentioned travel company works.
Trip.com currently provides services in more than 200 countries. The company’s activities cover more than 1.2 million hotels that offer tourists a wide range of accommodation options. The firm also has a kind of flight network, including more than 2 million routes connecting more than 5,000 cities.
UPI currently provides services for the world’s largest cardholder database. The company operates in 79 countries. UPI unites the global tourism industry with the help of uninterrupted payment services. Since the beginning of this year, the user traffic of this company has increased by 81%. The same OTA indicator showed an increase of 153%.
The cooperation between the two companies expands the possibilities of accepting online payments for more than 200 million UPI cardholders outside mainland China. Also, as a result of the implementation of this partnership in Hong Kong, consumers will have access to the possibility of performing financial operations through the integration of the local version of the payment service provider’s app. Also, in this case, an offer to make transactions in Hong Kong dollars is guaranteed.
Cooperation is also a beneficial solution in terms of strengthening UPI’s international presence. In this case, the guarantee of strengthening the company’s position at the global level is of a long-term nature. The firm’s payment network will expand. The influence of the UPI brand on the global level will also increase.
Wang Zhe, Head of the Foreign Finance Unit Trip.com says that this company has always strived to provide consumers with comprehensive top-class travel services. He also stated that the collaboration with UPI is another milestone of the brand’s mission to continuously introduce innovative solutions and improve the quality of customer service. According to him, the company expects that in the future UPI cardholders will be able to use more convenient travel booking services and payment tools around the world.
Currently, UPI handles payment transactions at more than 38 million retail outlets outside mainland China. The company’s cards can also be used at 1.76 million ATMs.
Trip.com provides travel services available in 35 currencies in 39 countries in 24 languages. The company provides round-the-clock customer service.
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