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Merchant Development Agreement between UnionPay International and Turkey’s Biggest Acquirer

May 7 – Cai Jianbo, CEO of UnionPay International and Onur Genç, Executive Vice-president of Turkish Garanti Bank sign a merchant development cooperation agreement in Shanghai, agreeing to further deepen bilateral cooperation, jointly expand merchants’ acceptance of UnionPay cards in Turkey, and provide UnionPay cardholders more convenient services.

Turkish Garanti Bank is the largest acquirer in Turkey under which 5,000 ATMs and 500,000 POS terminals have accepted UnionPay cards and completed the upgrading for acceptance of UnionPay chip cards. In order to optimize the card-using experience of Chinese tourists, all POS terminals of the Bank provide Chinese receipts and all ATMs are installed with Chinese interfaces. After conclusion of the cooperation agreement, the two sides will speed up the expansion of merchants accepting UnionPay cards and expect UnionPay cards to be accepted by over 40% of POS terminals within the year. In the future, the two sides will consider the cooperation to issue UnionPay cards in Turkey.

CEO Cai Jianbo says, UnionPay International has been dedicated to the construction of overseas acceptance network. With a unique geographic location, Turkey has maintained intimate economic, trade and personnel exchanges with China and many other Asian countries and witnessed rapid growth of payment demand from UnionPay cardholders from China and Asia-Pacific. Garanti Bank is of important status in local market. The cooperation between the two sides not only is conducive to speeding up the optimization of local UnionPay card acceptance environment and enhancing the UnionPay card payment service for cardholders and enterprises but also explores a new mode of win-win cooperation.

Executive Vice-president Onur Genç says, in recent years, more and more Asian businessmen and enterprises come to Turkey for trade, investment and travel and prefer UnionPay card as an essential payment tool for outbound travel. Turkish Garanti Bank will further deepen the cooperation with UnionPay International and increase the acceptance of UnionPay cards in order to meet cardholders’ demand for convenient payment. Turkish Garanti Bank and local merchants will be winning new market shares and creating higher value whilst bringing superior payment service to cardholders.

 

About UnionPay International

UnionPay International (UPI) is a subsidiary of China UnionPay focused on the growth and support of UnionPay’s global business. As a membership organization with over 300 members worldwide, UnionPay International has enabled card acceptance in over 140 countries and issuing in more than 30 countries. UnionPay International provides high quality, cost effective and secure cross-border payment services to the world’s largest cardholder base and ensures convenient local services to a growing number of global UnionPay cardholders and merchants.

For more information on UnionPay International, please visit: www.unionpayintl.com.


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