UnionPay Tax Refund Service Covers All Major Tax Refund Countries and Regions

Recently, some Chinese tourists who have visited Russia found they were able to claim tax refund into their UnionPay cards when leaving Russia after shopping at the famous TSUM Department Store in Moscow.

Release time : 2018-07-13 16:16:56

source : UnionPay International

Recently, some Chinese tourists who have visited Russia found they were able to claim tax refund into their UnionPay cards when leaving Russia after shopping at the famous TSUM Department Store in Moscow. Getting the tax refund saves 10% of their spending. It is learnt that seven countries along the “One Belt, One Road”, including Russia, have started launching the UnionPay Tax Refund service since this year. UnionPay cardholders can also enjoy Early Refund service, which allowing merchants to initiate refunds at POS terminals, debit refunds direct to UnionPay cardholders’ accounts and pay refunds in cash, in 14 countries and regions. With the greater coverage and flexibility of UnionPay Tax Refund service, the service is favored by more and more outbound tourists. The tax refund volume with UnionPay cards has been growing rapidly for several years, and has grown by about 60% in the first half of this year.

Service scope of UnionPay Tax Refund continues to expand

In recent years, Chinese tourists are traveling to more destinations, and more tourists are visiting the Belt and Road countries. In line with this trend, UnionPay International is continuously expanding the scope of its tax refund service through cooperation with over ten tax refund agencies worldwide. This year, seven countries including Russia, Belarus, Ukraine, United Arab Emirates, Moldova, Macedonia and Serbia have newly started offering UnionPay Tax Refund service. So far, UnionPay Tax Refund service is available at over 300,000 merchants in 44 countries and regions, covering all major tax refund countries and regions.

Meanwhile, UnionPay Tax Refund also allows greater flexibility around when and how UnionPay cardholders receive their VAT refund. In addition to the traditional airport tax refund, UnionPay International has launched Early Refund Service in cooperation with Global Blue last year. After shopping, customers can use UnionPay credit card as a guarantee, and get their