China UnionPay Launches First Card in US

On April 29, China UnionPay, which is the largest bank card organization in China, started issuing a prepaid travel card for American tourists and business travelers who frequently visit the Asia-Pacific region. It is the first card UnionPay has issued in the United States, and it’s partnering with Bancorp Bank, a subsidiary of  Wilmington, Delaware-based Bancorp Inc. According to Xinhua, the card can be used in more than 90 percent of ATMs and 80 percent of merchants in the United States. UnionPay has now issued cards in almost 30 countries.