UnionPay International and Visa reach strategic partnership for cross-border remittances.

Recently, UnionPay International and Visa jointly announced in Shanghai that they have reached a strategic cooperation agreement on cross-border remittances. According to the agreement, the two parties will combine the usage habits and scene demands of users in different markets to jointly create a diverse and convenient cross-border remittance service system. Member institutions such as banks and professional remittance companies under Visa will simultaneously launch UnionPay's cross-border remittance services through various channels such as mobile banking apps, official websites, and offline outlets to adapt to the global users' digital payment needs.