Including the World’s Largest Credit Card Network!
ELECTRONIC, specialists in self-service payment terminals, is expanding its kernel portfolio to include China UnionPay (CUP), the world’s largest credit card network.
With the CUP kernel, FEIG ensures that Quickpass cards from the CUP subsidiary of UnionPay International (UPI) are accepted at all FEIG cVEND terminals. The kernel has been approved according to the Transit Edition of the UPI Quickpass specification.
UnionPay is the only credit card organization in China and the largest global card network with around seven billion cards. More than 100 million UnionPay cards are in circulation outside of China. UnionPay is therefore an excellent partner for FEIG in order to offer the advantages of fast and secure contactless payment accessible to an even larger number of users around the world. In addition to UPI, level 2 kernels for VISA, Mastercard, American Express, Discover / Diners, Girocard, Rupay, PURE and Bancomat are already available for the cVEND terminals.
The innovative FEIG Payment Terminals have extremely fast transaction speeds making them ideal for use in local public transport. In many countries, public transport is already making a massive contribution to the increase in contactless transactions. The group of customers who pay for their ticket contactlessly on the go and benefit from fast and secure payment at the terminal will expand to include many UnionPay cardholders in the future. Through this partnership, the potential for public transport as an environmentally friendly alternative to motorized individual transport can be used more broadly and can be fully deployed.
The operators of public transport also benefit from the CUP Kernel on cVEND terminals. In the future, operators will be able to do even more without the expensive, time-consuming handling of cash and enjoy increases in sales, which in many cases goes hand in hand with the more convenient payment process that eliminates latency times. In public transport FEIG’s self-service payment terminals are primarily used in validators, onboard computers, access barriers and ticket machines.
“The partnership with UnionPay is a great milestone for us and optimally complements our existing card partner network. Our universal payment terminals, developed in Germany, combined with the global reach of UnionPay’s cardholder base, will further promote the acceptance and use of contactless payment processes. We are pleased that users of public transport worldwide will be able to pay with UnionPay cards at cVEND terminals”, says Michael Rödig, Senior Product Manager PAYMENT at FEIG ELECTRONIC.