UnionPay's online Singles Day transactions jump over 30%

Daily online payment volume handled by China UnionPay increased by 36.7 percent during the Singles Day shopping festival compared with October.

Both the amount and number of daily online payment transactions made via the banking card organization on November 11 jumped by 31.4 percent compared with last month.

The annual event started on November 1 and lasted until November 11.

To better meet the payment needs of consumers, China UnionPay established a cooperation mechanism with banks, payment institutions and other industrial parties.

It has a multi-center distribution system in Shanghai and Beijing, which can support 240,000 transactions per second at peak volume.