The signing ceremony took place in Shanghai, China and was attended by President and CEO, Faysal Bank Limited Naved A. Khan, and First Executive Vice President, UnionPay Cai Jianbo.

According to Faysal Bank here Tuesday, UnionPay is one of the fastest growing payments technology companies in the world.

Its cards are accepted on 1.5 million ATMs and 4.5 million POS terminals, in more than 126 countries.

It has a card base of more than 2.8 billion globally, which makes it one of the largest payment schemes in the world.