International paytech firm First Data has partnered with UnionPay International to enable in-store and online transactions in the US allowing UnionPay card holders to shop at US retailers, writes Banking Technology (Paybefore‘s sister publication).
The partnership allows Chinese visitors to use their UnionPay chip credit and debit cards at First Data’s US merchant clients. The implementation will eventually extend to the four million merchant locations that First Data serves across the US.
The partnership will allow US retailers will be able to accept Europay, Mastercard and Visa (EMV) transactions made with UnionPay debit or credit cards.
Initially, First Data will target online retailers within the travel and entertainment industries, including airlines, cruise lines and entertainment theme parks with the service. First Data will also enable UnionPay debit or credit transactions made online or in-app, via a mobile phone or other devices.
As part of the partnership, UnionPay debit transactions will be routed through First Data’s least cost debit routing technology, which allows merchants to reduce its overall cost of payment acceptance by routing transactions through the most cost-effective network.
Alongside this, First Data recently introduced several other services to its digital commerce solution suite, including a security tool called Fraud Detect that leverages artificial intelligence, machine learning, and cybersecurity expertise to detect potential fraud before it occurs.