Barclays Partners With Chinese Card Issuer
Monday, March 06, 2017
China Union Pay or UPI is the largest card issuer in China and has issued over five billion cards there.
It is a card of choice for many Chinese nationals and other countries in Asia with on average at least one Chinese national owning one UPI card.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...