SAINT JOHN, Antigua and Barbuda, March 12, 2019 — In order to expand the scope in the new continent, UnionPay International (UPI) gives the possibility to NIBank, renowned Latin-American bank, for the development of instruments of payment under the platform and name of the Asian giant. With this agreement, NIBank gets the license to develop multiple mechanisms of payment, either physical or non-physical, in addition to very innovative benefits for consumers in the entire area of the Caribbean and South America as it has been doing for more than one decade at the hands of others franchises.
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For the Chairman of the Board of NIBank, Jordán Silva Tugues, “This alliance demonstrates the commitment we have to support our customers through different payment solutions and allows us to meet the objective of offering better purchasing opportunities.”
China’s transnational UPI bets on a new strategy: the increasing of wholesale customers in Latin America. Indeed, it looks forward to a rapidly growth due to the new license granted to NIBank. Meanwhile, NIBank has invested in technology platforms and commercial licenses that ensure the placement of the instruments.
With this agreement, UPI, leader in the issuance of cards around the world, hopes to boost its presence in Latin America. The agreement between Unionpay International and NIBank allows the possibility of developing many innovative payment mechanisms for the region in the areas such as online and mobile payment, IC Card, mPos, and B2B payments. Also, UnionPay cards, offer a full range of exclusive privileges, including travel abroad assistance; medical assistance; VIP physician service and medicines; high-end travel insurance; 24-hour concierge service, and more.
UPI, a subsidiary of China UnionPay, is the most popular card network in China. It is focused on the growth and support of the global business in association with more than 1,800 institutions around the world. Moreover, it has allowed the acceptance of cards in 170 countries and regions.
China´s transnational UPI works closely with global institutions through a membership plan. Up to this date, more and more companies have joined to UPI as members, which, no doubt, will accelerate the commercial development of the company. Such is the case of American and European brands as: PayPal, Barclays, BBVA, Globalpayments, Interac, Interbank, Itaú, Setefi, Worldpay, and now, NIBank.