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UnionPay

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UnionPay

Overview

UnionPay is one of the largest platforms for making online payments in the world. It has a particularly strong position in China, where it was founded 16 years ago. Since then, the platform has expanded its operations to over 150 countries, which made the platform an international financial institution. UnionPay has a prepaid card which is used by a lot of users all over the world, for both shop and casino payments.

UnionPay cardholders can use ATMs and terminals such as POS, and can pay bills, book tickets, transfer money to other users and top-up their bank cards. If the number of users around the world and dissemination of this system is taken into account, this method of payment is the second most popular platform, just after Visa. UnionPay card can be paired with Visa, MasterCard, and American Express cards, which allows for their use literally everywhere. Debit cards are an exception, they are usually only available at points that have a separate agreement with the UnionPay platform.

 

Payments

The process is very simple when it comes to making a Deposit in stores or casinos. First, you must purchase a UnionPay prepaid card, payment for this can be done using your Visa or Master Card.

When you already have the card, you can then reload it. Of course, you have to set up an account and enter all the required data to activate it. The registration process is very simple and runs similarly to that of other platforms. After reloading the card, you can now go ahead and make payments. The advantage of such a card is that, unlike the cards issued banking institution, your private financial information is not made available to third parties (casinos or stores).

As with most prepaid card systems of this type, there is no available payment via this system.

However, you can always take your funds to withdraw using many other different methods. The most popular way of withdrawal is to write a check, it takes 1 to 4 weeks for it to be processed, depending on the country of residence and some other factors. If time isn’t an issue for you, then this is the most convenient and the easiest method of withdrawal. However, using checks is usually related to certain fees. If you will be using this kind of withdrawal method regularly, then this is something you need to take into account. The second way is to do a bank transfer, which usually takes 3 to 5 days, however, not every casino supports this option. The third and most often chosen option is simply to use an alternative payment system that allows you to process a withdrawal, like for example, Skrill and Neteller which are two of the most popular e-wallets available in all casinos.

For those seeking instant deposits, Union Pay is definitely a great choice. Funds are sent to the casino immediately, right after a deposit is made. No processing fees are charged for payments, provided that the account is active. In the case of inactivity for 12 months or longer, a fee of USD 4.95 is charged. If you lose your prepaid card or if it gets destroyed, you also have to pay a fee of USD 4.95 to be able to make a new one.

 

Mobile Payments

UnionPay platform also has an extremely developed system supporting mobile devices like iOS and Android. You can use all the services offered by the platform through your mobile device, by the use of the app or directly on the website. Customers can also make payments using special software, which uses NFC technology. Should there be any problems, you can always contact the international line of this platform for support.

 

Advantages

  1. No available financial information when making a payment via this system to casinos or shops, or to the recipient of the payment
  2. Not only safe but also trustworthy
  3. UnionPay prepaid card allows you to withdraw funds from any ATM in the world
  4. Extremely cost-effective, taking into account the huge commissions that banks in other countries charge, let alone other continents

 

Disadvantages

  1. Casino players can't make a withdrawal through UnionPay card

 

Conclusion

UnionPay, being the second most popular in the market has already proven itself when it comes to the services it offers. Throughout the years it has continued to improve in all aspects and has benefited most of its users.  It can be a better alternative to bank cards depending on what your purpose is. All in all, UnionPay is something that is definitely worth considering.

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