Auspost ready to accept UnionPay cards
Print Edition
CHINA UnionPay and the Australia Post (Auspost) yesterday launched their cooperation in accepting bank cards issued by the world’s largest card organization, indicating the expansion of the Chinese financial giant into Australia’s largest retail and banking network.
With more than 4.2 billion cards in circulation, accepted by over 140 countries and regions, UnionPay offers a widely recognized method of payment for global merchants.
Auspost has more than 4,400 retail outlets in metropolitan areas and 2,561 in rural and remote areas, which is the largest retail and banking network in Australia.
Shi Wenchao, managing director of UnionPay, said Australia has been a popular tourism and overseas education destination for Chinese people. The number of Chinese tourists has risen 15 percent annually in the past five years and they have brought great opportunity and challenges to UnionPay’s business in Australia.
“Our cooperation with Auspost makes Australia the first developed country whose major financial and post institutions both accept UnionPay cards, which will facilitate the business and people’s exchange between China and Australia,” Shi said at the launching ceremony yesterday.
Ahmed Fahour, the Auspost chief, is “very excited about” the first big financial institution partnership since he became CEO.
According to a media release by Auspost, the two companies agreed to issue Australia’s first UnionPay multi-currency travel card, called UnionPay Load&Go, by the end of the year.
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