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It provides bank card services and a major card scheme in mainland China. Founded on 26 March 2002, China UnionPay is an association for China's banking card industry, operating under the approval of the People's Bank of China (PBOC, central bank of China). [1] It is also an electronic funds transfer at point of sale ( EFTPOS) network, and the ...
UnionPay. The app of UnionPay ( Chinese: 云闪付; pinyin: Yúnshǎnfù, lit. 'Cloud QuickPass') is a mobile and online payment service, developed and operated by UnionPay, the national Chinese bank card clearing service. Launched in 2017, [1] it was designed to compete with the existing third-party Chinese mobile payment platforms, Alibaba ...
The Octopus card ( Chinese: 八達通; Jyutping: baat3 daat6 tung1, Cantonese) is a reusable contactless stored value smart card for making electronic payments in online or offline systems in Hong Kong. Launched in September 1997 to collect fares for the territory's mass transit system, it has grown into a widely used system for transport and ...
Visa is the world's second-largest card payment organization (debit and credit cards combined), after being surpassed by China UnionPay in 2015, based on annual value of card payments transacted and number of issued cards. However, because UnionPay's size is based primarily on the size of its domestic market in China, Visa is still considered ...
Pulse is an interbank electronic funds transfer (EFT) network in the United States. It serves more than 4,400 U.S. financial institutions and includes more than 380,000 ATMs, as well as POS terminals nationwide. Rivals of the network include First Data 's STAR and Fidelity National Information Services's NYCE. It is owned by Discover Financial ...
The attack might affect cards by Discover and China's UnionPay but this was not demonstrated in practice, in contrast to Visa cards. In early 2021, the same team disclosed that Mastercard cards are also vulnerable to a PIN bypass attack. They showed that criminals can trick a terminal into transacting with a Mastercard contactless card while ...
RuPay has tied up with international players like Discover, Japan Credit Bureau and China Union Pay to enhance its international acceptance and recently achieved the milestone of issuing 25 million RuPay – Discover global cards. As per JCB Co., Ltd., 1 million RuPay-JCB co-badged cards are in circulation in India in premium category.
In May 2009 Woori Bank became the first Korean bank allowed to issue UnionPay debit cards (it issues UnionPay credit cards in Korea only). Furthermore, when China entered the WTO, geographic restrictions placed on RMB-denominated business was phased out in four major cities—Shanghai, Shenzhen, Tianjin and Dalian.