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On December 13, UnionPay International and Monlen – Mongolian bankcard inter-bank switching network, made a joint announcement in Ulan Bator that UnionPay cards would be acceptable on all ATMs and POSs in Mongolia, making both cash withdrawal and card wiping services available by UnionPay cards, which has further optimized the UnionPay card use environment in Northeast Asia following the overall acceptance of UnionPay cards by POSs in South Korea.
Monlen, established by Mongolian Central Bank in 2008, is aimed at realizing the inter-bank use of bank cards by networking major commercial banks in the territory of Mongolia. Khan Bank and Golomt Bank in Mongolia have earlier opened their ATMs and POSs to accept UnionPay cards. Taking advantage of Monlen’s network, this acceptance of UnionPay cards by all ATMs and POSs of the networked banks has rapidly expanded the range of application of UnionPay cards in Mongolia, making it possible for UnionPay debit and credit cards to be used conveniently.
Mongolia is the first country that has issued the UnionPay RMB cards outside China. UnionPay cards issued locally have not only provided convenience to local residents but also become a beloved payment tool for cross-border trading, tourism and other activities. These UnionPay cards have been frequently used in the UnionPay networks in more than 20 countries and regions outside Mongolia, especially in over 100 cities in China. It is believed that the expansion of UnionPay acceptance network in Mongolia will provide more convenient payment service to local residents and UnionPay card holders visiting Mongolia.
The cooperation with Monlen for overall acceptance of UnionPay cards is a significant business advancement of UnionPay International since its founding. UnionPay International is the subsidiary of UnionPay engaging in international businesses aimed at further expanding the use of UnionPay cards on a global scale and providing the card holders with broader and more convenient card service based on more flexible management mechanism and more open business mode.
Monlen, established by Mongolian Central Bank in 2008, is aimed at realizing the inter-bank use of bank cards by networking major commercial banks in the territory of Mongolia. Khan Bank and Golomt Bank in Mongolia have earlier opened their ATMs and POSs to accept UnionPay cards. Taking advantage of Monlen’s network, this acceptance of UnionPay cards by all ATMs and POSs of the networked banks has rapidly expanded the range of application of UnionPay cards in Mongolia, making it possible for UnionPay debit and credit cards to be used conveniently.
Mongolia is the first country that has issued the UnionPay RMB cards outside China. UnionPay cards issued locally have not only provided convenience to local residents but also become a beloved payment tool for cross-border trading, tourism and other activities. These UnionPay cards have been frequently used in the UnionPay networks in more than 20 countries and regions outside Mongolia, especially in over 100 cities in China. It is believed that the expansion of UnionPay acceptance network in Mongolia will provide more convenient payment service to local residents and UnionPay card holders visiting Mongolia.
The cooperation with Monlen for overall acceptance of UnionPay cards is a significant business advancement of UnionPay International since its founding. UnionPay International is the subsidiary of UnionPay engaging in international businesses aimed at further expanding the use of UnionPay cards on a global scale and providing the card holders with broader and more convenient card service based on more flexible management mechanism and more open business mode.
