UnionPay is not holding back on international expansion. In recent years, UnionPay has upped innovation significantly, developing lots of new products that can be used for crossborder transactions. These include a digital wallet, a crossborder B2B platform and even a crossborder marketing platform called UPlan.

China is one of the most connected countries on the planet, having been highly disconnected just a few years ago. Due to it’s size and enormous population, it’s ecommerce and efinance companies are some of the biggest in the world. China now has the largest number of internet users in a country at over 700 million. Their consumption online is also the 2nd highest in the world at $967 billion USD in 2016. Ahead of China in terms of online spending was the USA, at $1.13 trillion USD.

Getting Around Town. Ride sharing & mobile taxi services saw their user base rise to 278 million. Limousine booking services saw their user base rise to 217 million. Bicycle rental services saw their user base rise to 106 million