Fosun-backed Portuguese Millennium BCP has signed an agreement with China's national electronic payments clearing system UnionPay to develop a mutual business, Fosun International said on Monday, according to a Reuters report.
Initiated by Fosun International, the strategic investor of the Portuguese bank, the partnership enables Millennium BCP to obtain a UnionPay International Membership License, becoming the first non-Chinese issuer of UnionPay cards in the Europe except for Russia, said the report.
"Our partnership with so influential an institution as Millennium plays an exemplary role in promoting more institutions in Europe to accept and issue UnionPay cards," Larry Wang, vice president of UnionPay International, was quoted as saying in the report.
