China UnionPay network transactions up 13.3% during Spring Festival

Chinese card payment giant China UnionPaysaid on Tuesday that it had completed 1.38 billionnetwork transactions during the seven-day Spring Festivalholiday with the total amountreaching 1.32 trillion yuan (189 billion U.S. dollars), a year-on-year increase of 13.3 percent.

The mobile payment business transactionsparticularlyincreasedduring the January 24 to 30 period. Transactions made by QuickPass app, a mobile payment app,increased by 23percent over the same period last year, said China UnionPay.

Meanwhile, China UnionPayestablished a leading group for epidemic prevention and control to ensure payment protection and services during the Spring Festival and the

coronavirus epidemic.

It has taken measures to stabilize system and ensure smooth payment, and implemented preferential treatment for worst-hit epidemic areas.

For instance, UnionPayexempted network service feesand agency fees for cross-bank cash withdrawal business of UnionPay cards within Hubei Province. It also exempted or reduced services fees for hospitals and charities related to epidemic prevention and control in various places, and reduced costs for small businesses. These preferential measures will begin on February 2, 2020 and end on a date determined by the state.

In addition, as of February 3, a total of 40,000 people had contributed in QuickPassdonation activities, with 2.4 million yuan being raised, according to UnionPay.