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UnionPay International Payment System enters Ukrainian market

UnionPay International Payment System enters Ukrainian market

On 12th of November 2018 Nation Bank of Ukraine agreed terms and conditions of UnionPay International payment system activity in Ukrainian market.

UnionPay International (UPI) is a subsidiary of China UnionPay focused on growth and support of UnionPay’s global business as well as cross-border payment services to the world’s largest cardholder base.

At the first stage UnionPay International payment system will provide in Ukraine acquiring, issuing cash and paying for goods and services with UnionPay payment cards.

In the future it will also be envisaged for issue of UnionPay payment cards by Ukrainian banks.

International payment system UnionPay International has become the fourth international card payment system in Ukraine, payment company of which is non-resident. Amoung currently working international card payment systems in Ukraine are VISA, MasterCard and American Express.

The enter of Chinese payment system to Ukrainian market lets citizens of China visit Ukraine more often with goals of tourism, investments and business.

Now for Chinese citizens available visa on arrival for 15 days for business or tourism purposes at Boryspil International Airport (KBP), Igor Sikorsky Kyiv International Airport (IEV) and Odessa International Airport (ODS).

Thus all facts show that in 2019 a significant increase in the flow of tourists from China to Ukraine is expected.


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