China UnionPay and security standards

A recent copy of The Nilson Report noted that the business of payment cards, the global market share of China UnionPay (4.03%) is greater than the global market share of American Express (3.91%).

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.

Leave a Reply

Your email address will not be published. Required fields are marked *