Equinox Payments Enables Merchants to Tap Into Chinese Tourists’ Spending Power with Support for UnionPay Credit & Debit Ch...
December 06 2017 - 7:45AM
Business Wire
Luxe and L5000 are first US domestic payment
terminals to support UnionPay contact and contactless credit and
debit at the point of sale in the US
Equinox Payments (“Equinox”), a leading provider of payment
terminals, applications and support services, today announced
that their Luxe and L5000 terminal lines have been certified by
UnionPay International to support contact and contactless chip
technology for both debit and credit cards. Merchants can tap into
the incredible spending power of UnionPay card holders. UnionPay
transactions are routed through Discover Network and PULSE in the
U.S.
“We are honored to be the first domestic terminal provider to
add support for UnionPay chip and contactless cards in the US,
including debit cards,” said Rob Hayhow, vice president, Equinox
Payments. “Merchants that adopt these solutions can increase sales,
speed checkout time, reduce counterfeit card chargebacks and lower
processing costs.”
Shops, restaurants, hotels and attractions in tourist areas and
around campuses will especially benefit by extending UnionPay debit
acceptance to customers. Chinese tourists and students represent a
large cohort of consumers in the US. According to the US Department
of Commerce, nearly 4 million Chinese mainland tourists will have
visited the US in 2017, representing a 15 percent year-over-year
growth rate. Chinese tourists average $5,000 in spending per trip.
Additionally, there are over 400,000 Chinese students enrolled in
US colleges and universities.
“Equinox has raised the bar by integrating UnionPay chip and
contactless support into their existing EMV-certified terminals,”
said Tom Pouliot, business development, UnionPay International.
“The majority of UnionPay cardholders carry debit cards and often
withdraw cash from ATMs to make purchases, which limits their
cash-on-hand spend and exposes them to theft. Thanks to Equinox,
they will now be able to quickly and securely complete purchases
with a dip or tap of their UnionPay cards.”
The Luxe family includes the elegant Luxe 8000i, designed for
fixed acceptance areas including retail countertops and hotel
registration desks, and the modular Luxe 6000m, ideal for both
countertop and mobile acceptance uses like local roaming, line
busting and field-level payments. Equinox has also integrated
UnionPay support in its L5300™ multi-lane terminal specifically
designed for high-volume retailers. Four China UnionPay AIDs—1
debit, 1 credit, 1 quasi-credit and 1 US common debit—are supported
using a Peoples Bank of China (PBOC) kernel, and co-exist in the
EMV-certified devices.
About China UnionPay
China UnionPay, established in 2002, is the bankcard association
in China. As the pivotal role of Chinas bankcard industry, China
UnionPay is responsible for operating unified inter-bank clearing
and settlement system in China and developing the international
acceptance network for UnionPay card. To date, the total number of
UnionPay card issued worldwide has exceeded 2.1 billion. In 2009,
the number of UnionPay card inter-bank transactions reached 7
billion with an amount of USD 1.1 trillion. China UnionPay has also
established partnership with around 400 financial institutions all
over the world. As of now, UnionPay card international acceptance
network has been extended to 92 countries and regions. Over 10 of
them have issued UnionPay card. For more information, go to
www.chinaunionpay.com.
About Equinox Payments
Brookfield Equinox LLC (dba Equinox Payments) was founded in
2014 as a result of an acquisition of assets from Equinox Payments,
LLC. Located in Scottsdale, Arizona, Equinox is looking beyond
product features to rethink and reimagine the customer payment
experience.
The company is owned by NBS Payment Solutions, based in Toronto,
Canada and a leading provider of electronic payment solutions to
the financial industry for over 25 years. NBS Payment Solutions is
a wholly-owned subsidiary of Brookfield Asset Management, which has
over $225 billion of assets under management. Brookfield is listed
on the New York (BAM) and Toronto (BAM.A) stock exchanges. For more
information about Equinox, visit www.equinoxpayments.com.
EMV is a registered trademark or trademark of EMVCo LLC in the
United States and other countries.
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version on businesswire.com: http://www.businesswire.com/news/home/20171206005207/en/
Equinox PaymentsMichelle Wagner,
770-331-7010mwagner@equinoxpayments.com
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