UnionPay to issue cards in Poland

Chinese banking card payment processor UnionPay signed a strategic deal with Portuguese Banco Comercial Portugues (BCP) to issue its payment cards on the markets where the bank operates. BCP is the owner of WSE-listed Bank Millennium. Besides Poland and Portugal, BCP operates in Switzerland, Angola, and Mozambique. BCP will be the first European bank to issue UnionPay cards. UnionPay is used in 160 countries and regions and its cards are issued in over 40 countries and regions, said Wang Lixin, deputy president of UnionPay International. BCP’s majority shareholder is Chinese investment group Fosun, which initiated the deal.