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CHINA UnionPay and Visa, two of the world’s leading bankcard clearing service providers, yesterday inked a memorandum of understanding on payment innovation, security and inclusive finance.
The cooperation will help facilitate more convenient, safer and more efficient payment services for customers, said UnionPay President Shi Wenchao.
UnionPay is responsible for all bankcard transactions on the Chinese mainland. It has bankcard clearing services in more than 150 countries and regions.
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