UnionPay International has signed an agreement with Swedish acquirer Swedbank to expand its acceptance footprint in emerging tourist destinations.

The agreement will allow the Swedbank’s merchants in several Nordic countries and the three Baltic states to accept UnionPay cards in two years.

The deal will enable Swedish merchants to UnionPay cards. It will also allow Swedbank’s merchants in Finland, Denmark, Latvia, Estonia and Lithuania to accept UnionPay.

China UnionPay chairman Shi Wenchao said: “First, UnionPay has presence in 38 European countries and regions while its acceptance footprint has extended from major cities to surrounding regions.

“Second, more types of merchants are accepting UnionPay, including duty free shops, department stores, daily spending places and cultural and entertainment establishments.

“This all-round cooperation with Swedbank will keep improve UnionPay cardholders’ payment experiences in Europe, and we will look for more opportunities for future cooperation with the local institutions in online payment and mobile payment.”

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By GlobalData