UnionPay International and Canada's TD Merchant Services announced on February 10 that they have entered into an agreement regarding TD's acceptance of UnionPay cards in North America , beginning later this year.
The two sides agreed to enable 100,000 merchants within a three-year period as well as to realize the acceptance of UnionPay's innovative payment methods including contactless payment with UnionPay chip cards.
Cai Jianbo, CEO of UnionPay International, Larry Wang , Chief Business Development Officer of UnionPay International and Jeff van Duynhoven , President, TD Merchant Services were present at the signing ceremony in Shanghai .
"As the UnionPay network continues to expand in the overseas market and the services keep improving, UnionPay cards have become outbound Chinese travelers' first payment choice and are currently accepted by over 80 percent of the local ATMs and tens of thousands of merchants in Canada ," said Larry Wang .
"More than 400,000 Chinese tourists visited Canada last year and UnionPay cards provided them with convenient and secure services. TD's businesses cover many regions in North America and we will deepen our cooperation to continue to expand the UnionPay card acceptance and provide cardholders with diversified payment services," he said.
Jeff van Duynhoven , President, TD Merchant Services, said, "We are very pleased to partner with UnionPay to bring card acceptance to our merchants. Canada is a hugely popular destination for Chinese visitors and we want to ensure our merchants are enabled to accept their payment method of choice."
In recent years, the use of UnionPay card in North America has become increasingly convenient. Except for the large number of ATMs and merchants in Canada that have been enabled for UnionPay card acceptance, well-known online merchants are also enabled, including Tianbao Travel, Tianma Travel, Polar Bear Canada. Moreover, dozens of colleges and universities have enabled cross-border online tuition payment.
In addition, in the US, cardholders can use UnionPay cards at more than 90 percent of ATMs and 80 percent of merchants. Payments can be made not only with UnionPay credit cards through signature verification but also with UnionPay debit cards at merchants equipped with a pin pad.