UniCredit and UnionPay Expand Chinese Card Acceptance in Italy through PAX Technology Terminals

Shenzhen (China), 17th January 2014

UniCredit, one of Europe’s leading Banks, will deploy point of sale terminals from PAX Technology to expand the acceptance network of UnionPay cards in Italy.

PAX Technology is the first POS terminal vendor to receive UnionPay approval from Ubis, the technical payments division within UniCredit. PAX Italia will be providing UniCredit merchants with the robust S90 portable GPRS terminal and the S58 countertop device, both certified by Italy’s payments authority, the Consorzio Bancomat.

The agreement between UniCredit and UnionPay was announced during an official ceremony late last year in Milan by Mr. Federico Ghizzoni, Managing Director of UniCredit, and Mr. Su Ning, President of UnionPay.

Mr. Ghizzoni said: “The number of Chinese tourists traveling to Italy each year continues to rise, with over 1 million last year, and as a result so to does the number of Italian retail merchants wishing to accept UnionPay cards”. Mr. Su added: “Our agreement with UniCredit means that not only will our card holders benefit from their service network, but it will encourage trade between our two countries”.

Currently UnionPay cards are accepted in over 100,000 merchants and can be used to withdraw cash at 70% of the ATM machine network.
About UniCredit (www.unicreditgroup.eu)
UniCredit is one of Europe’s leading commercial banks operating in 20 countries with over 9,000 branches and 148,000 employees. The core markets outside of Italy include central and eastern Europe.
About UnionPay (www.unionpay.com)
UnionPay is a bankcard association established under the approval of the State Council and the People’s Bank of China and is owned by over 80 financial institutions. Headquartered in Shanghai, UnionPay has 400 domestic and overseas associate members.
About PAX Technology (www.pax.com.cn)
PAX Technology Limited (“PAX”) is an innovative global provider of electronic payment solutions offering world-class, cost effective and superior quality payment solutions. With 5 million Point of Sale terminals deployed globally and building on its service excellence and proven leadership position, PAX is considered one of the fastest growing payment solution providers with world-class manufacturing and R&D capabilities and a growing sales and channel partner network across the globe.