UnionPay Sees Record Transactions in 2018

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

TRENDING: Tech Brief (Oct. 9): SoftBank to Acquire ABB’s Robotics Business

LATEST: Tech Brief (Oct. 9): SoftBank to Acquire ABB’s Robotics Business; Tech Brief (Sept. 30): U.S. Widens Export Blacklist; U.S. Tightens Export Controls to Cover Subsidiaries of Blacklisted Firms; DeepSeek Unveils New Model With Sparse Attention, Slashes API Costs; Tech Brief (Sept. 29): Meituan’s Food-Delivery Platform Keeta Launches in Dubai; Chinese Chipmaker Moore Threads Gets Fast Track Approval to $1.1 Billion IPO; Chinese Drone Maker XAG Files for Hong Kong IPO After First Annual Profit; GPT Weekly: Nvidia to Invest $100 Billion in OpenAI; Tech Brief (Sept. 26): Trump Approves TikTok Deal; Xiaomi Ups the Stakes in Premium Market With iPhone-Style 17 Series; Yangtze Memory’s Parent Restructures to Pave Way for IPO Amid Sanctions Pressures; Tech Brief (Sept. 25): Alibaba Launches AI Models; Alibaba Bets Big on ‘AI + Cloud’ With New Models, Nvidia Deal; GlobalFoundries Boosts U.S. Investment, Adds China Fabs to Meet Auto Chip Demand; Tech Brief (Sept. 24): Mercedes-Benz, ByteDance Partner on In-Car AI; Tech Brief (Sept. 23): Nvidia Plans $100 Billion Investment in OpenAI for AI Data Centers; Tech Brief (Sept. 22): Trump Says Murdoch Family May Be Involved in TikTok Deal; GPT Weekly: CoreWeave Secures $6.3 Billion Nvidia Order; Huawei Unveils Three-Year AI Chip Roadmap as Nvidia Faces Setbacks in China; Tencent Cloud Shuns Price War in Intensifying AI Race

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

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.

Support independent journalism from China. Subscribe to Caixin Global starting at $0.99.

Share this article

Open WeChat and scan the QR code