China UnionPay and security standards
Amex is already involved in setting the security standards that govern the payments industry. Along with Discover, JCB, MasterCard, and Visa they're part of the PCI SSC, for example. But I haven't met anyone from UnionPay at any of the standards meetings that I go to. I haven't even seen their name on any list of members. But now that UnionPay is getting fairly big, maybe we'll see them more involved in setting security standards for the payments industry in the future.