Chinese Payments Giant UnionPay to Support Crypto Spending With New Virtual Card
The world's biggest credit and debit card company will support payments with a South Korea-developed cryptocurrency for an upcoming virtual card offering.
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The new card will support crypto payments using Paycoin at over 30 million UnionPay merchants. Major financial services corporation China UnionPay, an analog to card providers like Visa and Mastercard, has partnered with the South Korean payment provider Danal to launch a cryptocurrency-supporting digital card.Danal’s crypto wallet Paycoin and its crypto token of the same name will be the interface for the new, prepaid mobile card. Paycoin has indicated that users will be able to use both the card and Paycoin to pay for goods and services at over 30 million UnionPay merchants across 179....
Chinese residents who value their financial freedom need to consider obtaining Bitcoin. China’s capital controls are slowly getting out of hand as of late. A new move will see UnionPay bank card holders withdrawal limits cut in half. This is another move to fight the Macau gaming industry, which is often seen as a “safe’ way to avoid capital control. All of this will highlight the value and viability of Bitcoin even further. With multiple billions of yuan flowing out of the Chinese economy every year, stemming the tide is of the utmost importance. Doing so is not an easy feat by any means,....
Uphold Inc., a platform that provides various financial services and encourages fintech innovation, now allows customers in Greater China and Hong Kong to use their China UnionPay card to load funds to their Uphold wallet. Uphold is partnering with China UnionPay, the largest bank card association in China. Uphold offers China UnionPay customers a safe, secure, and transparent suite of financial services. In announcing the China UnionPay partnership, Anthony Watson, Uphold president and CEO, said Uphold becomes the first U.S.-based financial services company to provide services in Greater....
Crypto debit cards continue to catch on as an Australian digital assets startup gets approval from Visa to release a spending card down under. Global payment giant Visa is moving forward with its commitment to digital currency adoption by approving the issuance of a new Bitcoin (BTC) debit card in Australia.Sydney-based crypto spending app CryptoSpend announced Wednesday that Visa has approved the issuance of a physical debit card that will allow Australians to spend their Bitcoin at local merchants.CryptoSpend co-founders said in an interview with the Australian Financial Review that the....
Australia's big four bank, the Australia and New Zealand Banking Group (ANZ), has announced it will implement China's UnionPay contactless payment feature QuickPass to ANZ electronic funds transfer at point of sale (EFTPOS) terminals and ATMs throughout the Austrasia region. China's UnionPay is moving forward with its global expansion plans, announcing yesterday it had concluded a deal with ANZ that would find the bank implementing UnionPay's QuickPass contactless capability to 90,000 ANZ EFTPOS terminals across Australia. The feature will be deployed to New Zealand by the end of 2015,....