China UnionPay

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    UnionPay crackdown has minimal impact amidst illegal use

    The seizure of UnionPay point of sale terminals (POS) from pawn shops in Macau earlier this month triggered a slide in operator shares on fears of tighter capital controls, though the continued use of illegal devices means there has been little impact on revenue. Two state-owned mainland banks, Industrial and Commercial Bank of China (ICBC) […]

    UBS raises 2018 mass forecast, but says UnionPay may weigh

    UBS has raised its gaming estimates for the mass market for 2018 to 18 percent from 17 percent previously, though adds the sector is likely to be the most affected by the government’s confiscation of China UnionPay point-of-sale terminals.

    China imposes new Union Pay limits

    China’s State Administration of Foreign Exchange has imposed new restrictions on UnionPay cards, effective on January 1, 2018, though the impact on Macau GGR is expected to be limited. ATM daily and annual cash withdrawal limits per card for both RMB cards and foreign currency cards will be unified to be RMB 10,000 ($1,540) per […]

    No need to panic over Macau policy risks: Bernstein

    While recent headlines are a reminder of Macau’s susceptibility to policy risks, the impact is minimal over the long term, said Bernstein in a Tuesday note.   In December last year, Macau’s government moved to cut the daily withdrawal limit from MOP10,000 (US$1,251.9) to MOP5,000 for UnionPay ATMs.   In May, Macau’s banks made it a requirement […]

    New ATM measures will take time: Bernstein

    The Macau government is planning to implement new security features at ATMs near casinos in the latest measure to clamp down on illegal cash flows out of Mainland China, local media reports. According to a Macau government statement on Sunday, under the new measures, holders of China UnionPay cards will be required to scan their […]

    Macau Monetary Authority confirms UnionPay crackdown: Premium mass seen hit

    The Macau Monetary Authority has confirmed it is stepping up supervision of the use of China UnionPay cards in pawn shops in a move analysts say is likely to impact the premium mass market. The MMA in a statement Friday confirmed that it will be implementing real-time monitoring of mainland bank cards at high-risk merchants. […]

    Beijing plans further crackdown on UnionPay abuse

    China is planning a further crackdown on abuses of the UnionPay card system, according to a report in the South China Morning Post, which cites a memo issued by China UnionPay headquarters. The memo will require millions of mobile “point of service” (POS) transaction devices across the nation to be properly registered. Seen by the […]