ANZ China CEO Charles Li and UnionPay International Chairman of China Su Ning signed a new agreement supporting the expansion at a ceremony attended by Prime Minister of Australia The Hon Tony Abbott and Chinese Premier Li Keqiang in Sanya, China.
“As Australia’s largest bank in China, ANZ is pleased to be able to provide wider UnionPay card payment options to our customers as they travel through Australia, New Zealand and the rest of the region.
“Chinese tourists are on the move. For example, in Australia they represent one in five of all overseas visitors, up from one in 20 in 2009. It’s an important step forward to provide our merchants throughout Asia Pacific with the ability to accept UnionPay, given its status as the preeminent card network throughout China,” Dr Li said.
Under the agreement, UnionPay cards will be accepted at ANZ merchant terminals and ATMs by 2015. ANZ will also be the first Australian bank to accept contactless and EMV enabled UnionPay cards.
UnionPay International Co. Ltd is a subsidiary of China UnionPay and has a card network that has been extended to all cities and rural areas in China as well as 135 countries. ANZ has had a presence in China since 1986 and was locally incorporated in 2010. It has branches in Beijing, Shanghai, Guangzhou, Chongqing and Hangzhou, as well as an operations centre in Chengdu. It also has strategic partnerships with Shanghai Rural Commercial Bank and Bank of Tianjin.