Citi rolls out corporate cards for MNCs in China
Oct 19, 2012
WTO’s ruling on China UnionPay cards: Monopoly or exclusivity?
US card giants have long criticised China UnionPay for monopolising the country's payment market.
The lastest tug of war between China and the US heats up as the World Trade Organisation ruled on July 16 that the Chinese government violated WTO rules by stipulating that all local bank cards carry the UnionPay logo and all Chinese merchants have to be equipped with UnionPay-compatible swipe machines. But the international trade body rejected a US trade representative’s claim that UnionPay monopolised China’s bank card market.
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