UnionPay International, a global leader in payment solutions, in collaboration with Commercial Bank of Ceylon (ComBank), proudly announces remarkable business growth in Chinese Mainland. This success underscores the strengthened economic and cultural ties between Sri Lanka and Chinese Mainland. The joint efforts of UnionPay and ComBank are driving strategic partnerships and delivering diversified payment solutions to empower consumers and businesses alike.

ComBank UnionPay cardholders have witnessed an extraordinary surge in usage in Chinese Mainland, achieving over 4.5 times growth in 2024 compared to 2023. Approximately 95% of this spend has been in ATM cash withdrawals, reflecting the growing reliance on UnionPay’s robust payment network. Hotels and other categories, including jewellery, clothing, luxury goods, and food & beverages, also contributed significantly to this growth.

“The exponential growth in ComBank UnionPay card usage in China is a testament to the strength of our partnership with UnionPay. Together, we are providing our customers with seamless access to global markets while enhancing their payment experience. This success motivates us to further expand our offerings in 2025,” said Mr. Nishantha de Silva, Head OF Card Centre at Commercial Bank of Ceylon.

“We are glad to observe the remarkable growth of UnionPay in Sri Lanka, along with the increasing utilization of UnionPay products in the Chinese Mainland. This trend underscores the strengthening relationship between Sri Lanka and China. Our unwavering commitment to innovation and strategic local partnerships has been instrumental in driving this success. We eagerly anticipate continuing our support for Sri Lanka’s financial ecosystem through our comprehensive and efficient payment solutions,” said Mr Crispin Wijesekera, Sri Lanka Country Manager of UPI.

over 100,000 UnionPay cards have been successfully issued in Sri Lanka, comprising Credit and Debit cards across Gold, Platinum, AP Platinum, and AP Diamond tiers. These cards can also be linked to the ComBank Q+ Wallet, providing added convenience for users. The UnionPay App now supports scanning LankaQR codes across the country, further enhancing accessibility and usage. 

UnionPay has a strong presence in Sri Lanka, with approximately 410,000 merchants accepting UnionPay QR. Additionally, UnionPay cards have over 90% acceptance at ATMs nationwide, facilitating seamless cash withdrawals for cardholders.

Sri Lanka continues to be a top travel destination for Chinese tourists. Iconic attractions such as Sigiriya, NuwaraEliya, Yala, Udawalawe National Parks, and Kandy and Galle are particularly popular among visitors, supported by UnionPay’s payment network for a seamless travel experience. Notably, China remains one of the top five countries with the highest number of visitors to Sri Lanka, according to a report1. This further highlights the mutual importance of this connection and the role UnionPay plays in facilitating travel and commerce between the two nations.

UnionPay’s success is powered by robust local partnerships. ComBank remains a key partner for card issuance, with additional issuances planned for 2025. UnionPay has collaborated with almost all major banks in Sri Lanka for POS and e-commerce acceptance. 

UnionPay’s initiatives emphasize its commitment to fostering economic growth and strengthening Sri Lanka’s connection with the Chinese mainland. Through its strong collaboration with ComBank, UnionPay is driving the expansion of financial services that benefit both nations. By delivering innovative payment solutions and deepening local partnerships, UnionPay and ComBank aim to promote financial inclusivity and support the local economy.