Chinese card payment giant China UnionPay had extended its services to 177 countries and regions, as some merchants and automatic teller machines (ATM) in Armenia began to accept UnionPay cards recently.

Central Asia and Transcaucasia are core regions along the Silk Road Economic Belt, and the acceptance of UnionPay cards in Armenia will contribute to the interconnection of the payment network along the Belt & Road, said Shao Fujun Chairman of China UnionPay.

The coverage rate of UnionPay cards has reached about 70 percent in central Asia and Transcaucasia, including Kazakhstan, Uzbekistan and Georgia.

Over 80 percent of countries and regions participating in the Belt & Road Initiative have signed cooperation agreements with China UnionPay, covering nearly 10 million merchants and 700,000 ATMs, said the company.