Mashreq Bank partners with Union Pay to increase online card acceptance in the UAE
The new partnership is in line with the rise in online trading observed across the nation.
With online trading on the rise in the UAE, global payment network UnionPay International and Mashreq Bank have announced a collaboration to ensure UnionPay cards are accepted on all online merchants of Mashreq Bank.
Research conducted by Payfort, an Amazon company, indicates that the region’s online transaction rates have increased by 22 per cent with the UAE increasing by 21 per cent in 2016. The research also revealed that the UAE led in terms of the dollar value of online transactions across the Middle East at $12.4 billion.
The newly launched UPOP (UnionPay Online Payment) service will provide existing customers of UnionPay with a secure and efficient online payment solution in line with the company’s vision to increase global connectivity.
With this collaboration between UnionPay International and Mashreq Bank, UnionPay cardholders are able to access a wide network of online payments, enjoying further enhanced shopping experience in the UAE.