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China's UnionPay and Australia's ANZ Bank have reached a deal for acceptance of bank cards issued by the Chinese card organization.
中国银联与澳新银行达成协议,后者将认可中国银联签发的银行卡交易。
The move is seen as a step by the Chinese financial giant to further expand into Australia's banking1 network.
Cai Jianbo with UnionPay International says the bank cards will be widely accepted at automated2 teller3 machines (ATMs) and merchant terminals across Australia.
"Our bank cards can be accepted by 80 percent of ATMs in Australia now and the percentage of businesses that accept Union Pay cards has risen as well, by 10 percent, to reach 55 percent. It will bring great convenience to tourists and business people traveling in Australia."
The two sides have also launched a "quick pass" function of UnionPay cards. With the function customers can finish cross-border payment simply with their cellphones.
So far, UnionPay has joined hands with all four major banks of Australia - the Commonwealth4 Bank of Australia, Westpac, National Australia Bank and ANZ Bank.
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