UnionPay Expands into Middle East with Strategic Partnership
Shanghai, Wednesday, 3 December 2025.
UnionPay’s new partnership aims to boost digital payments in the Middle East, marking a strategic expansion into a key growth market. This aligns with global connectivity goals.
UnionPay’s Strategic Move in the Middle East
On December 3, 2025, UnionPay, a leading card payment service provider based in China, announced its strategic expansion into the Middle Eastern market. This expansion is facilitated through a new partnership aimed at enhancing cross-border payment solutions, particularly in a region that is rapidly embracing digital payment technologies [1].
Significance of the Partnership
The collaboration involves key financial institutions in Turkey, such as the Industrial and Commercial Bank of China (ICBC) Turkey, marking the first issuance of a local multi-currency UnionPay card in the country. This card supports multiple currencies including Renminbi, Turkish Lira, British Pound, US Dollar, and Euro, demonstrating UnionPay’s commitment to providing versatile financial solutions [1][2].
Building a Global Payment Network
This move aligns with the outcomes of the Global Partners Conference held in Shanghai, where UnionPay signed 11 cooperation agreements focused on open payments and global connectivity. The strategy includes advancing payment connectivity through collaborations with institutions across Asia, South America, and Africa, thereby building a comprehensive global payment network [2][3].
Future Prospects in the Middle East
UnionPay’s expansion is part of a broader strategy to establish a significant presence in the Middle East by collaborating with regional financial institutions and enhancing payment interoperability. The company aims to leverage technological innovations and localized cooperation to improve the payment ecosystem in the region, aligning with its vision of interconnected, co-constructed, and mutually beneficial payment solutions [1][4].