UnionPay. Photo: CFP

247 - UnionPay, a Chinese company with billions of cards issued globally, is scheduled to debut in Brazil in 2025.

On Brazilian soil, the Asian country's institution intends to operate credit cards and integrate with PIX. The operation will be enabled by fintech Left, which is working to connect the Chinese company to banking networks, vending machines and ATMs in the country.

UnionPay operates in more than 180 countries and has more than 9 billion cards issued globally. It dominates about 40% of all global card transaction volume, according to a report by Xataka, a website specializing in gadgets and technology. 

UnionPay's expansion is also linked to the strategy of Brazil, China and the BRICS countries to strengthen their global financial independence amid geopolitical tensions with the US. 

UnionPay's idea is not to rely solely on SWIFT to make transactions. The acronym refers to the global communication channel between its participants, including the US. Instead of SWIFT, UnionPay uses its own international transfer system, CIPS, a model that should be expanded to countries in the Global South, such as Brazil.

(Reported by Brasil 247 on August 2, 2025)