Wednesday, January 30th, 2019
Over the past few months, Allied Wallet, a globally leading provider of mainstream online payment processing, has made quite a name for itself. Also a multi-currency merchant services and a PCI Level 1 secured payment gateway, Allied Wallet has recently partnered with China UnionPay in an effort to expand in Europe and offer an Allied Wallet-branded China UnionPay card.
A recently released statement says, “[China UnionPay] cards are accepted by over 40 million merchants in the world and in million of ATMs. We look forward to giving more people an opportunity to use these cards.”
To date, China UnionPay is the world’s largest payment card issuer – and its cards are only growing in popularity across the world. In its domestic market alone, it has already issued 6 billion cards; that’s far and beyond MasterCard and Visa combined.
In September, it was announced that as early as next month [October] the first China UnionPay and Allied Wallet cards would begin to be issued for European consumers. These cards will be allowed to be used while traveling in Asia, in hopes that it will simplify and secure consumer spending.
When asked what the next step is, the reply was that, yes, the partnership does intend to expand this effort. However, travelers going abroad are not the main target. Europe is the intended target.
“In Europe, we want to target local customers in the domestic market, not only people traveling to Asia,” said Zhilhong Wei, head of UnionPay in Europe. According to Wei, they plan to issue UnionPay-branded cards across Europe as early as December.
“We’re proud to be partnered with China UnionPay to issue these co-branded cards,” said Allied Wallet CEO Andy Khawaja. “[China UnionPay] cards are accepted by over 40 million merchants in the world and in millions of ATMs. We look forward to giving more people an opportunity to use these cards.”
Just one month later, Allied Wallet was also listed as a leading key player by Verified Market Research in the Global Payment Gateway Market projected to reach $33.25 billion in 2025. Allied Wallet’s reputation has been built over 13 years and over 150 million satisfied users globally.
“We’re very happy to be leading the industry alongside companies like PayPal and Stripe. Many of our customers are previous customers of theirs, and we pride ourselves on providing the best service while adding new and innovative features,” said Allied Wallet CEO Andy Khawaja.
The recent partnership with China UnionPay should prove to be beneficial for both parties involved, not to mention offering consumers a new means of making payments all over the world. According to information released, the two companies plan to issue an estimated 10 million cards in the first year of its release.
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