China UnionPay network transactions up 13.3 percent during Spring Festival holiday

Chinese card payment giant China UnionPay said on Tuesday that it had completed 1.38 billion network transactions during the seven-day Spring Festival holiday with the total amount reaching 1.32 trillion yuan (189 billion U.S. dollars), a year-on-year increase of 13.3 percent.

The mobile payment business transactions particularly increased during the January 24 to 30 period. Transactions made by QuickPass app, a mobile payment app, increased by 23 percent over the same period last year, said China UnionPay.

Meanwhile, China UnionPay established a leading group for epidemic prevention and control to ensure payment protection and services during the Spring Festival and the coronavirus epidemic. It has taken measures to stabilize system and ensure smooth payment, and implemented preferential treatment for worst-hit epidemic areas.

For instance, UnionPay exempted network service fees and agency fees for cross-bank cash withdrawal business of UnionPay cards within Hubei Province. It also exempted or reduced services fees for hospitals and charities related to epidemic prevention and control in various places, and reduced costs for small businesses. These preferential measures will begin on February 2, 2020 and end on a date determined by the state.

In addition, as of February 3, a total of 40,000 people had contributed in QuickPass donation activities, with 2.4 million yuan being raised, according to UnionPay.

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