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UnionPay and Cuscal Paymark Discuss Payment Acceptance and Digital Innovation

  • Written by: Business Daily Media
  • Published in PR Newswire

Mr. Mike Blomfield, Chief Executive Officer and Julia Nicol, Chief of Staff expressed support UnionPay's plans and the advancement of key projects.

Cuscal Paymark is New Zealand's largest payment switching and network services provider. The two parties have maintained a partnership since 2012.  To date, several major banks on its network support UnionPay payments at physical merchants. The company has also incorporated a number of UnionPay product standards into mandatory terminal upgrade requirements, providing a foundation for broader acceptance. Looking ahead, UnionPay will leverage Cuscal Paymark's local network and transaction processing capabilities to upgrade online and in-store payment platforms and further improve UnionPay acceptance services.

Discussions also covered upgrades to support chip transactions on dual-branded cards, online payment gateway integration, and the joint promotion of SoftPOS solutions to acquirers. The companies agreed to strengthen technical coordination to maintain reliable payment processing during and after system upgrades.

Other topics included agentic payments, digital identity, biometric applications, and payment network connectivity.

Ms. Nicol reaffirmed Cuscal Paymark's support for UnionPay's ongoing development in New Zealand and the advancement of key projects. Both parties agreed to explore further cooperation in wallet connectivity and digital payments.

UnionPay entered the New Zealand market in 2008. Its acceptance coverage now exceeds 90%, and UnionPay cards are now widely issued by local financial institutions. UnionPay will continue working with partners to improve payment services, strengthen financial integration between China and other APEC economies, and advance cross-border payment cooperation between China and New Zealand and across the broader Asia-Pacific region.

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