SHANGHAI, May 16, 2025 /Xinhua-AsiaNet/--
UnionPay International and Bank of China (Australia) Limited jointly announced on May 12 that they plan to cooperate on the issuance of UnionPay single-network dual-currency debit cards. This is the first time that a UnionPay single-network dual-currency debit card will be offered in Australia, marking a milestone in UnionPay's Australian business. Guo Dayong, President of China UnionPay, Li Mang, GM and Country head of Bank of China in Australia and Xie Qunsong, Deputy Chairman of UnionPay International, attended the ceremony.
The UnionPay single-network dual-currency debit card supports innovative functions such as contactless QuickPass payment and online purchasing meeting the payment needs of cardholders in different scenarios. After binding the card to Bank of China's Mobile Banking APP overseas version, cardholders can make payments via UnionPay QR code network covering 47 countries and regions around the world. The card supports dual-currency settlement and will automatically select the relevant payment currency providing that currency is available in the linked account. When cardholders purchase in the Chinese Mainland, they directly access their CNY linked account for payment, or if there is insufficient CNY in the linked account, or no linked CNY account, access the AUD linked account at the real-time exchange rate, free of currency conversion fees.
During the "May Labour holiday" in 2025, the number of air tickets booked by Australian travellers to China increased by 150% from 2024. In response to the rising trend of "China Travel" in Australia, UnionPay's global acceptance network and multiple product features including "Card, QR and mobile Pay" combine with Bank of China's financial resources in Australia to optimise the payment experience for Australians travelling in China or cross-border. Since launching in 2024 UnionPay continues "Project Excellence" to coordinate with domestic and overseas industry stakeholders to effectively improve the level of payment facilitation for foreigners coming to China by expanding the issuance of cards outside China and optimising the card acceptance in China.
In Australia, all major offline merchants and ATMs accept UnionPay payments, about 90% of which support UnionPay QuickPass, basically building a full range of offline payment acceptance for students, business travellers and local customers. Cardholders have increasing convenience for payments in Australia and access to many benefits and privileges when travelling abroad and visiting China. UnionPay is increasingly becoming a payment brand favoured by Australians for local and overseas purchases and payments and when visiting China.
Source: UnionPay International