Visa and UnionPay International announced an agreement enabling cross-border money transfers into Mainland China. The deal utilizes Visa's global payments network, Visa Direct. Unveiled at Web Summit Qatar, the agreement marks a significant expansion for Visa into one of the world's largest remittance markets.
Once fully implemented, the partnership allows Visa clients to send payments to over 95% of UnionPay debit cardholders in Mainland China. This requires only a single connection. The integration links Visa Direct's global network with UnionPay International's MoneyExpress platform. This streamlines person-to-person remittances, payments to creators and freelancers, and business-to-consumer disbursements.
The expanded connection is scheduled to be available in the first half of 2026. The collaboration aims to provide a more efficient and reliable cross-border payment service.