Baku, Azerbaijan, Sept. 28
China's UnionPay International has signed a cooperation agreement with the Uzbek bank Ipak Yuli, Uzbek media reported.
According to the agreement, the Uzbek bank will issue 500,000 plastic cards under the UnionPay-UZ brand within the next three years. This will allow Uzbekistan to enter the global network of the UnionPay system.
Some 150,000 UzCard terminals throughout Uzbekistan currently accept UnionPay cards. Moreover, several banks in Uzbekistan are already members of this international payment system.
UnionPay International payment system is the largest and fastest growing Chinese payment system, founded in 2002 with the support of the Central Bank of China. To date, over 5.5 billion cards have been issued worldwide. UnionPay cards are accepted for service in more than 150 countries around the world, in particular, they are served by over 1.1 million ATMs.