Citigroup's UnionPay qualification in China has been terminated
China UnionPay recently announced that it has terminated the membership of Citibank Limited, but did not disclose the specific reasons. This means that Citibank China will no longer conduct payment business through the UnionPay network. According to Caizhong News, this adjustment directly led to a reduction in the number of foreign banks with UnionPay membership in China from 9 to 8. Currently, foreign banks holding UnionPay membership in China include HSBC, Standard Chartered Bank, Bank of East Asia, DBS Bank, Mizuho Bank, Deutsche Bank, MUFG Bank, and Hang Seng Bank
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