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UnionPay Sees Record Transactions in 2018

By Charlotte Yang / Jan 22, 2019 04:35 PM / Business & Tech

Photo: VCG

Photo: VCG

The transaction volume for UnionPay hit an all-time high in 2018, reaching 120 trillion yuan ($17.7 trillion), up 28% from 2017, according to data released by the company today.

The Chinese bank-card operator has been pushing aggressively into mobile payment in recent years. The company said its mobile QuickPass app has attracted over 120 million users since it launched at the end of 2017.

Related: Visa and Mastercard’s Applications for China Entry Drag On

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