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UnionPay cards started to be issued in electronics stores

Now, in order to get a UnionPay card, you don’t even have to go to the bank: from the end of June, you can get an unnamed “plastic” of the Chinese payment system at Solidarity branches in some Know-How consumer electronics stores.

At the moment, the service is provided by six points of the network, and when applying, the client will be asked for documents confirming his travel abroad: the original passport, visa, plane ticket or hotel reservation. The bank clarifies that there are no restrictions on the date of the trip, in addition, this is a temporary measure.

It is not necessary to be a bank client to register UnionPay in mobile electronics stores. The consumer will be able to choose one of three currencies for opening an account – rubles, euros and yuan – and receive an unnamed physical card. It will be possible to pay with it wherever the Chinese payment system is supported. Withdrawal limits are 500 thousand rubles or 7.5 thousand euros. The card is issued free of charge, while the service fee will be 2.5 thousand rubles per year, the amount will be debited from the account at once. The client must personally submit an application in the store and will be able to pick up the finished “plastic” in a few hours, a representative of the network said.

UnionPay cards started to be issued in electronics stores

Other financial institutions and retailers are not yet going to follow the example of Solidarity, but Tele2 noted that they are monitoring consumer demand and are ready to consider issuing cards in case of interest from customers.

Under the conditions of external restrictions, Russian cards work abroad only if they have Mir and UnionPay payment systems. Due to this, interest in the Chinese system has grown significantly since the beginning of the year, financial institutions that already have the opportunity to issue such cards found themselves in a better position and increased service fees, said Konstantin Borodulin, director of NRA banking ratings. In his opinion, the expansion of the list of partner banks will proceed at a slow pace due to the fear of secondary sanctions from UnionPay. Previously, this process took several months, and in the current conditions, the period can be significantly extended.

At the same time, the demand for UnionPay cards remains high, and in the coming months the list of banks offering this product will expand, says Valery Piven, Senior Director, Head of the Financial Institutions Rating Group at ACRA.

The issuance of “plastic” UnionPay in stores will relieve the branches of credit institutions. In addition, if the demand for cards remains high, the number of points where such a service is offered may increase, Igor Dodonov, an analyst at FG Finam, believes.

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