China UnionPay is mainly engaged in the construction and operation of a national unified inter-bank information exchange network for bank cards, providing advanced electronic payment technology and professional services related to inter-bank information exchange for bank cards, and carrying out technological innovation of bank cards. Its industry is other financial industries.
The company's specific business scope includes: managing and operating UnionPay logo, formulating norms and technical standards for interbank transactions of bank cards, coordinating and arbitrating disputes in interbank transactions, organizing industry training, business seminars and international exchanges, and engaging in related research and consulting services. Other related businesses approved by the People's Bank of China.
Management status of UnionPay
The establishment of China UnionPay marks the formal formation of a new industrial development system of "jointly formulating rules, jointly promoting business, jointly expanding markets, jointly standardizing order and jointly preventing risks", and marks the intensive and large-scale development of China's bank card industry, which has entered a new stage of comprehensive and rapid development.
Since its establishment, China UnionPay has actively complied with the social and economic development of the country and the people's demand for cards, kept in mind the industrial mission, fulfilled its social responsibilities, fully played the role of the bank card organization, and actively joined hands with commercial banks, professional institutions and other relevant parties in the bank card industry to explore the development path of China's characteristic bank card industry.