UnionPay Taps Allied Wallet for Prepaid Launch in Europe
Allied Wallet, a Los Angeles-based provider of online payment processing, is partnering with UnionPay International to issue a UnionPay-branded prepaid card, the “first ever’ partnership of its kind in Europe.
Allied Wallet, which offers payment solutions in 196 countries, will issue UnionPay prepaid cards for corporate payouts.
With the largest global card base and percentage of global spend among all global networks, UnionPay is accepted in 162 countries and territories. More than 42 million merchants and 1.3 million ATM machines outside China accept its payment cards.
“We see an opportunity here to not only benefit Chinese payees who live and work in Europe, but also an opportunity to benefit all payees who need a reliable method of accessing their funds and transacting online,” says Allied Wallet Founder and CEO Dr. Andy Khawaja.
Many companies in Europe and in other countries use Allied Wallet’s system for payouts of wages, expenses and commissions, the company says. Within 12 months of its Q1 2018 launch with UnionPay in Europe, Allied Wallet projects that more than 1 million UnionPay branded, Allied Wallet prepaid debit cards will be issued.
The Bancorp issued the first UnionPay prepaid card in the U.S. in 2013.
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