The 7th China International Import Expo (CIIE), which opened on November 5, has drawn nearly 3,500 exhibitors from 129 countries and regions, celebrating global trade and innovation. UnionPay International (UPI), a loyal CIIE partner, highlighted its dedication to enhancing cross-border commerce with advanced, secure, and user-friendly payment solutions for exhibitors, buyers, and attendees.
Transforming Global Payment Experiences
At this year’s CIIE, UPI introduced its newest products, including the UnionPay SplendorPlus Card and a unique CIIE-themed card at the Bank of China (BOC) Shanghai Pavilion. These products were crafted to offer smooth payment solutions and exclusive benefits, reinforcing UPI’s goal to improve cross-border payment experiences.
Launched under “Project Excellence 2024,” the SplendorPlus Card is tailored for international travelers in China. It supports multiple payment options, such as physical card, QR code, and mobile payments, and provides valuable cashback and perks in categories like travel, cultural sites, and dining. With close to 40 financial institutions globally now involved in issuing this card, UPI is expanding its reach and strengthening connectivity between China and international markets.
Meeting Diverse Cross-border Payment Needs
UPI has significantly expanded its payment ecosystem by recognizing and adapting to global consumer demands. To date, over 250 million UnionPay cards have been issued in 83 countries. These cards allow seamless access to payment services within China, including shopping, dining, hotel reservations, and transportation.
In partnership with 200+ e-wallet providers across 36 countries, UPI enables international users to link UnionPay cards or obtain digital cards, mirroring the contactless convenience enjoyed by local consumers. Furthermore, in collaboration with BOC Shanghai, UPI launched a CIIE-themed card for domestic users, offering 1% cashback and exclusive international discounts, catering to the growing needs of outbound Chinese travelers.
Innovations Powering Cross-border Trade
UPI is also pioneering digital transformation in cross-border trade, closely aligning with Shanghai’s Silk Road E-commerce Pilot Zone initiative. By integrating customs, invoicing, and payments, UPI has developed a unified, digital platform that promotes transparency and efficiency in global trade processes.
At the Silk Road E-commerce Innovation & Development Conference, held alongside CIIE on November 7, UPI signed a memorandum of understanding with Shanghai E&P International, BoComm Shanghai, and BOC Shanghai. This strategic alliance enhances Shanghai’s trade capabilities, setting a standard for electronic documentation in cross-border transactions.
Guided by regulatory frameworks, UPI’s innovations support standardized solutions for cross-border e-commerce, from hotel bookings to online settlements. These solutions are driving digital transformation in trade, ensuring sustainable growth in global commerce.
