Pause operations: company temporarily curtailing operations while keeping return options open

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UnionPay, also known as China UnionPay or by its abbreviation, CUP or UPI internationally, is a Chinese state-owned financial services corporation headquartered in Shanghai, China. It provides bank card services and a major card scheme in mainland China.

 
 
 
 

Pause operations: company temporarily curtailing operations while keeping return options open

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Revenue(RF), mln.USD
3
Assets(RF), mln.USD
5
Capital(RF), mln.USD
4
Staff(RF), 2021
8

Only 2% of Russians use Chinese UnionPay cards. In general, Russians did not notice the departure of Visa and Mastercard payment systems and Apple Pay and Google Pay payment services. In Russia, cards from the Chinese payment system UnionPay linked to the Huawei Pay service have stopped working. Users are faced with the impossibility of paying with devices in terminals of domestic stores. The restrictions may be a consequence of US sanctions against the Russian National Payment Card System (NSCP), which processes all UnionPay card transactions in Russia.

The Company Statement
February 27, 2023

Suspended issuing bank cards to Russian Banks. The largest payment system UnionPay has limited work with sanctioned Russian banks but Russian Standard Bank and some other banks' customers now have access to transfers to cards of the UnionPay payment system. The Chinese payment system UnionPay has removed from its Russian-language website information about issuing its cards in Russian banks, which have recently been sanctioned by the United States and Great Britain.

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Statements Archive
September 24, 2023What are the conditions for using UnionPay cards from Russian banks?
August 03, 2023For technical reasons, in connection with the transition of Post Bank to a new settlement platform, there may be temporary restrictions on transactions with UnionPay cards abroad.
July 20, 2023Tinkoff advised clients abroad to withdraw money after US sanctions
June 20, 2023Chinese cards of Russian banks refused to be accepted in China
June 20, 2023Chinese cards of Russian banks refused to be accepted in China
May 05, 2023Chinese UnionPay cards stopped working abroad with most Russian banks
March 07, 2023UnionPay removed information about Russian sub-sanctioned banks
December 29, 2022UnionPay introduced limits on cash withdrawals from cards of Russian banks abroad
December 20, 2022Only 2% of Russians use Chinese UnionPay cards. In general, Russians did not notice the departure of Visa and Mastercard payment systems and Apple Pay and Google Pay payment services.
November 26, 2022UnionPay has an opening in Russia
October 02, 2022Chinese strike. The largest payment system in the world has limited work with Russian sanctioned banks
April 22, 2022Visa and Mastercard have already cut ties with Russian banks. Now China’s largest credit card brand might be pulling out too
December 21, 2021Russian Standard Bank customers now have access to transfers to cards of the UnionPay payment system
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Company statements and statistical data are collected from open sources and official registers according to the methodology of the KSE Institute.
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