👻Brazil🇧🇷: China’s UnionPay🇨🇳card brand challenges Visa and Mastercard

👻Brazil🇧🇷: China’s UnionPay🇨🇳card brand challenges Visa and Mastercard

Worldwide, UnionPay has issued over 10 billion cards, confirming its status as the most widely used payment network in 2025. If it manages to establish itself in the lucrative Brazilian market, traditional card giants could face significant competition.

➡️ As part of its Brazil strategy, the company plans to offer credit-function cards and integrate from the very first year into the instant payment system Pix.

➡️ Its Brazilian partner is fintech Left, whose platform will allow users to choose which social projects will receive a percentage of the commission charged on each transaction.

➡️ Additionally, UnionPay has secured the support of key players such as Stone (merchant payment solutions) and Saque e Pague (self-service financial terminal network), ensuring card acceptance in supermarkets, pharmacies, restaurants, stores, and services.

➡️ Over 1,500 ATMs are already being adapted to accept this new card brand.

➡️ Furthermore, the Rio de Janeiro Court ordered Itaú bank and Mastercard to immediately lift any restrictions on the use of their credit cards in digital wallets. The lawsuit, filed by the internet association Abranet and consumer protection association Abradecont, alleges that Mastercard unjustifiably increased the fees applied to digital wallet payments.

#news #Brazil #China #world_wide

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