Bank account name China UnionPay Guangdong Branch is UnionPay, what is it?

What you want to ask is the name of the bank current account. What does UnionPay mean in the abstract of Guangdong Branch of China UnionPay Co., Ltd. It is the abbreviation of China Bank Card Association. According to the inquiry, UnionPay is the abbreviation of China Bank Card Association, and the full name is "China Bank Card Association Co., Ltd.", which is a bank card clearing institution voluntarily established by domestic financial institutions. The main responsibility of UnionPay is to handle the clearing and settlement of bank card transactions issued by commercial banks, and promote the development of inter-bank and cross-border acceptance of bank cards and bank card payment services.