Chinese tourists in South Korea have 90% of the consumption of UnionPay cards
According to the news network reported on December 25 foreign media, said Chinese tourists in the overseas purchasing power, so that China UnionPay subsidiary UnionPay International to expand the global market is more emboldened. For example, in the Korean market, CUP has beat MasterCard and Visa and other international card organizations, becoming South Korea's top foreign bank card brand. According to Reuters reported on December 24, according to CUP International South Korea, general manager of Shing Chunchun on December 24 revealed that 2013 foreign tourists in South Korea's consumption, the UnionPay card market share is close to four percent, ranking first One, Visa is second. This year, China UnionPay International's market share in South Korea will further enhance, is expected to exceed the sum of other wild cards. According to her introduction, the current overseas consumption of Chinese tourists has been the vast majority of the use of bank cards, rather than a few years ago, most of the cash. So as long as the local card environment is convenient, Chinese tourists are happy to use UnionPay cards. According to some incomplete statistics, 90% of Chinese tourists in South Korea use the UnionPay card. China has been the world's largest international tourist consumer for several years, last year outbound travel consumption has reached 128.7 billion US dollars. According to the world's largest shopping tax rebate service system Global Blue Alliance Group released data in July, China's per capita overseas shopping consumption of 6727 yuan, also ranked first in the world. Chinese residents in the overseas huge purchasing power has become a tool for CUP International to open up overseas markets, but this is not CUP to catch up even beyond all the other competitors, convenient overseas card environment is indispensable. "Purchasing power is there, if we do not prepare in advance, the share is the other card organization." Sheng Jinchun pointed out that after nearly a decade of construction, South Korea is the UnionPay card in China outside the use of one of the most convenient market, more and more The more Chinese tourists are accustomed to using UnionPay cards. In Korea, UnionPay credit card can be used in almost any sign-up business, trading process, user experience and other card environment has greatly improved, South Korea's CUP merchant trading volume to an average annual growth rate of 100%. In addition, more than half of South Korea's ATMs can use the UnionPay card to draw Korean won cash. "To be an international bank card brand, there must be a certain basis.Our basis is from China's economic growth in the past three decades and the rapid increase in Chinese residents' income." Li Penglin, general manager of CUP International Hong Kong Branch. Hong Kong and Macao is the first stop of CUP International's overseas expansion, has become one of the fastest growing areas outside the mainland's mainland market. Because of the huge overseas consumption of Chinese tourists, CUP International has been more aggressive in negotiations with overseas businessmen in recent years, and has received more concessions than other bank card organizations. And the UnionPay card in China outside the currency transfer fee free of charge, businesses around the consumer preferences and other advantages also attract more and more foreigners to apply for UnionPay cards, such as in South Korea has been the local distribution of 10 million UnionPay cards, Hong Kong and Macao CUP card cumulative circulation reached nearly 20 million. In addition to intensifying the construction and improvement of the card environment in the popular tourist areas of Chinese tourists, CUP International also helped some underdeveloped countries and regions to carry out bank card infrastructure construction, providing them with payment technology and standards to weave a stronger CUP global The internet. For example, in the Chinese tourists less Mongolian region, UnionPay has occupied half of the market share. At the end of November, China UnionPay, China National Development Bank and the Lao central bank signed a cooperation agreement, starting in January next year to build the local national bank card payment system in Laos. CUP will participate as a technical support party in the project construction, in the payment system facilities construction, operation and maintenance services to provide support and share the development of China's bank card industry technology and experience.