More than 3.5 billion UnionPay cards have been issued internationally and the UnionPay Travel Prepaid Card is the first UnionPay card to be issued within the United States. The card can be purchased at Agent banks and loaded at the bank or online via account to card transfer after micro deposit verification. Though the card is targeted to those planning to travel to Asia, the card will be accepted within the US wherever UnionPay cards are accepted. UnionPay acceptance is growing dramatically and is currently accepted in every major US city.
“We are excited to become the first issuing bank of the UnionPay travel card in the United States. We look forward to combining the UnionPay brand and its service network with The Bancorp’s services to deliver the UnionPay travel card for US residents traveling to China,” said Betsy Cohen, The Bancorp’s Chief Executive Officer.
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.
Payments for digital and physical goods made mobile operating system-based payments platforms like Apple Pay and Android Pay are expected to boom in the next few years according to new analysis from Juniper.