China’s UnionPay, the world’s largest card payment company, signed a memorandum Wednesday with PrivatBank

China’s UnionPay, the world’s largest card payment company, signed a memorandum Wednesday with PrivatBank for the implementation of joint projects. Through this agreement, Ukrainian retailers and small businesses will be able to attract more Chinese consumers, Privatbank chairman Petr Krumkhanz told Novoe Vremya. Next year, PrivatBank, Ukraine’s largest bank, may issue UnionPay credit cards. Visiting from his Shanghai headquarters, UnionPay President Shi Wenchao said in Kyiv that his company “is ready to participate in the development of the payment industry in Ukraine.”