Unistream and UnionPay launch MoneyExpress transfer service


Unistream and UnionPay launch MoneyExpress transfer service

Unistream Money Transfers, in cooperation with Non-banking credit organization “United settlement system” (Joint-stock company) and “Compass Plus Online” LLC, have implemented MoneyExpress cross-border remittance service via UnionPay International.

Founded in 2002, UnionPay has grown to be one of the world’s leading payment systems, partnering with over 1800 institutions across the globe. To date, UnionPay cards are accepted in 171 countries and regions. Over 7 billion cards have been issued in 51 territories, making UnionPay’s cardholder base the largest one in the world. This system came to Russia in 2007, and now it is possible to apply cross-border remittance to a UnionPay card at any Unistream point of service. These remittances are valid for the UnionPay cards issued both by China and CIS resident banks.

It is easily done: all you need is the recipient’s card number, no other bank account information is required. Crediting of money to a UnionPay card via Unistream takes up to 1 minute at the most. Top-up commission starts at 0%.

“Thanks to Unistream, we expect to offer better and more diverse services to our cardholders in Russia and the CIS member countries,” Fan Jiguang, General Manager of UnionPay International Russia Branch, says. “Besides, there are Unistream service points, for example, in Europe and Israel, where many people also take interest in our cards. Currently, UnionPay is ranked first worldwide by the number of cards issued thus far. The expansion potential is still high, however. In partnership with Unistream, we will take a solid step forward, I'm sure.”
“Analysing the needs of our clients and potential users, we have ascertained that many would like to have the opportunity to top up their China-issued cards with ease and profit,” explains Kirill Palchyun, Chairman of the Board at Unistream. “We have provided our system users with that opportunity! I have no doubt that this service is going to be in demand, because trade and tourist contacts with China are developing constantly.”

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