Core Viewpoint - NCR Atleos Corporation has announced that UnionPay cardholders can now withdraw cash at thousands of Cashzone ATMs across the UK, aligning with the Chinese New Year celebrations [1] Company Summary - NCR Atleos Corporation is a leader in expanding self-service financial access for financial institutions, retailers, and consumers [1] - The company is enhancing its service offerings by integrating UnionPay, one of the world's largest card schemes, which operates in 84 countries and regions [1] Industry Summary - The partnership with UnionPay signifies a growing trend in the financial services industry towards enhancing accessibility and convenience for international cardholders [1] - The timing of the announcement coincides with significant cultural events, indicating a strategic approach to market engagement [1]

Core Insights - UnionPay has made significant advancements in cross-border payment innovation in the Middle East with the introduction of a multi-currency card and a QR code interoperability project [1][4] Group 1: Multi-Currency Card Launch - UnionPay, in collaboration with ICBC Turkey, launched Turkey's first local multi-currency debit and credit card [2] - The card supports five currencies: Renminbi (RMB), Turkish Lira, British Pound, US Dollar, and Euro, and is usable across UnionPay's acceptance network in over 180 countries and regions [3] Group 2: QR Code Interoperability - UnionPay signed a strategic cooperation agreement with BKM, Turkey's national payment switching network, to enable QR code interoperability [2][5] - This cooperation allows UnionPay users to perform scan-to-pay transactions in Turkey and enables Turkish users to scan UnionPay QR codes globally [5][6] Group 3: Market Presence and Strategy - UnionPay has established a strong presence in the Middle East, covering 15 countries with extensive acceptance in the UAE, Qatar, Turkey, and Pakistan [7] - The company has partnered with local financial institutions for card issuance, achieving a cumulative volume of tens of millions of cards, solidifying its position as a key bank card brand in the region [8] Group 4: Future Outlook - UnionPay plans to deepen collaboration with regional financial institutions to enhance payment standard interoperability and technical systems, promoting cross-border economic exchanges and digital economic development [9]

Core Points - UnionPay International has launched a pilot cross-border QR payment system between China and Indonesia, supervised by the central banks of both countries [1][3] - The pilot allows selected users to complete transactions using UnionPay and Alipay apps at over 40 million QRIS merchants in Indonesia [2][3] - The project is part of a government-to-government initiative, with full operationalization expected by 2025 [3][4] Group 1 - The pilot was initiated with a transaction demonstration in Beijing using an Indonesian mobile payment application [1] - In Jakarta, users successfully completed transactions by scanning Indonesia's standardized QR code (QRIS) [2] - The current phase is limited to pre-approved participants and merchants, with plans for expansion after the trial [3] Group 2 - UnionPay has signed cooperation agreements with Indonesian financial entities and switch networks to facilitate the project [4] - QR payment transactions will be settled in local currencies as per the bilateral agreement [4] - UnionPay is also expanding its QR payment linkage to 19 other countries and regions outside of mainland China [4]

Core Insights - Freedom Holding's CEO, Timur Turlov, highlights an increase in cross-border e-commerce between China and Kazakhstan following a cooperation agreement signed in Beijing [1][5] - The agreement aims to enhance economic ties and facilitate payment systems between the two countries [2][5] Group 1: Agreement and Economic Ties - Freedom Bank, part of Freedom Holding, has partnered with Verum Payments and UnionPay Business to support Kazakhstan-China cross-border e-commerce [2][5] - The cooperation agreement was signed during Kazakhstan President Kassym-Jomart Tokayev's official visit to China, indicating strengthening relations between Kazakhstan and China [5] Group 2: Payment Systems and Infrastructure - The agreement will help establish payment channels and correspondent accounts in both yuan and US dollars, enhancing trade facilitation [3][7] - UnionPay Business will assist in developing the technical infrastructure necessary for these payment systems, while Freedom Bank will focus on expanding the payment system across Central Asia [7] Group 3: Future Opportunities - Turlov emphasizes the potential to create interoperable platforms that can facilitate cross-border financial flows while adhering to regulatory standards [4] - The company aims to collaborate with Chinese fintech firms and utilize various payment gateways, including WeChat, to streamline payments between the two nations [4] Group 4: Investment Context - Kazakhstan has been a key destination for China's Belt and Road Initiative, with significant investments totaling US$23 billion in the first half of 2025 [6] - The largest investment project in Kazakhstan is a US$12 billion aluminum complex led by East Hope Group, showcasing the scale of Chinese investment in the region [6]

Core Insights - The ASEAN-GCC-China Economic Forum 2025 was held in Kuala Lumpur, Malaysia, with significant participation from UnionPay's leadership, highlighting the company's commitment to regional economic collaboration [1][4]. Group 1: UnionPay's Strategic Initiatives - UnionPay emphasizes its role as a key financial infrastructure and international card scheme, supporting national strategies and promoting regional trade and digital transformation in ASEAN and GCC countries [4][9]. - The acceptance network of UnionPay spans all ten ASEAN member states and all six GCC member countries, with over 90% merchant acceptance in ASEAN and nearly universal acceptance in GCC countries [5][6]. Group 2: Product and Service Expansion - More than 70 million UnionPay cards have been issued in ASEAN, with tailored products like the SplendorPlus Card for international visitors to China [7]. - UnionPay has launched over 40 digital wallets in response to the shift towards mobile payments, partnering with local banks and fintech companies [7]. Group 3: Cross-Border Payment Solutions - UnionPay has established partnerships with local payment networks in seven ASEAN countries, enhancing cross-border payment connectivity and contributing to the internationalization of the renminbi [8]. - The collaboration with Vietnam and Indonesia showcases UnionPay's commitment to government-to-government frameworks for payment interoperability [8]. Group 4: Economic Collaboration and Future Outlook - China, ASEAN, and GCC countries are enhancing cooperation through practical collaborations, with UnionPay positioned as a facilitator of economic digitization and regional integration [9]. - UnionPay aims to foster win-win partnerships and long-term value creation among China, ASEAN, and GCC nations [9].

Core Insights - UnionPay has significantly enhanced the cross-border QR payment interoperability between China and Cambodia, achieving over 200% year-on-year growth in QR payment value in Q1 2025, marking a record high [1][4]. Group 1: Partnership and Cooperation - The People's Bank of China (PBOC) and the National Bank of Cambodia (NBC) signed a Memorandum of Understanding in November 2023 to collaborate on financial innovation and payment systems [4]. - The QR payment connectivity project was implemented by UnionPay and Cambodian partners under the cooperation framework established by the two central banks [4]. Group 2: Payment System Expansion - In December 2023, UnionPay and NBC enabled payment acceptance on Cambodia's KHQR network for over 200 UnionPay partner wallets, including the UnionPay App and Chinese banking apps [4]. - The number of transactions in Q1 2025 grew by over 100% year-on-year, while the transaction value increased by over 200% [4]. Group 3: Cross-Border Payment Linkage - In March 2025, UnionPay and NBC announced the integration of Cambodia's Bakong wallets into UnionPay's global QR acceptance network and WeChat Pay's QR merchant network in China, establishing a two-way QR payment linkage with Southeast Asia [5]. - Bakong e-wallets have shown steady volume growth in various spending categories in China, becoming a preferred cross-border payment tool for Cambodian residents [5]. Group 4: Market Presence and Infrastructure - Since entering the Cambodian market in 2008, UnionPay has developed a comprehensive payment service system, with nearly all merchant POS terminals and 80% of ATMs in Cambodia accepting UnionPay cards [6]. - Local banks in Cambodia have issued hundreds of thousands of UnionPay cards, enhancing the acceptance network and local business offerings [6]. Group 5: Global Expansion and Future Plans - UnionPay has established or is advancing cross-border QR payment partnerships in 19 countries and regions, enabling over 10 million QR merchants overseas [7]. - The company aims to optimize payment experiences, expand merchant and user adoption for the two-way service, and deliver greater value to consumers [7].