Tue Apr 13

UnionPay Announces Partnership with Splitit to Bring Flexibility and Simplicity to Payments

Written by PR Newswire Asia - Daily Bulletin Au RSS

SYDNEY, April 13, 2021 /PRNewswire/ -- UnionPay International (UPI) has announced its partnership with Splitit, a leading global monthly installment payments solution provider, bringing the industry-leading Buy Now Pay Later (BNPL) services to 8.1 billion UnionPay cardholders with a flexible, interest-and fee-free payments option.

BNPL has emerged as an innovative payment option among online consumers and Splitit has developed as the main BNPL provider with the largest market share in Australia. Splitit's network of global merchants covers over 30 countries, which allows UPI to meet the increasingly diversified demands of its existing cardholders.

"The cooperation with Splitit is a remarkable milestone for UnionPay to further deepen its cooperation with local partners in the South Pacific region," said Jiangtao Jian, General Manager of UnionPay International South Pacific Branch. "By extending partnerships with local market leaders, we will continue to optimize our business and provide better and more localized services to our customers.

"We are absolutely delighted to partner with UnionPay. By leveraging our merchant network and global reach, we are happy to provide a more accessible and flexible payments option for consumers who hold UnionPay cards," commented Brad Paterson, CEO of Splitit.

The BNPL option is added inside the merchants' website as an integrated payments gateway, where customers will be able to choose a BNPL payment option at the checkout with their existing UnionPay Cards.

About UnionPay International

UnionPay International (UPI) is focused on the growth and support of UnionPay's global business. In partnership with more than 2400 institutions worldwide, UnionPay International has enabled card acceptance in 180 countries and regions with issuance in 68 countries and regions. UnionPay International provides high-quality, cost-effective, and secure cross-border payment services to the world's most extensive cardholder base. It ensures convenient local services to a growing number of global UnionPay cardholders and merchants.