Take your money to China

Take your money to China
By admin


With China very much on the brain this week, Australia Post has launched a new initiative in partnership with UnionPay International and Bank of China.

Australia Post has created a multi-currency travel card to support the significant number of Australians travelling to China for business and leisure, with the card enabling travellers to purchase and pre-load their card with dual currencies of Chinese Yuan and Australian Dollars.

China UnionPay has issued more than 4.5 billion cards, and is accepted by more than 23 million merchants around the world, with the company expecting to expand card acceptance networks to 60% of local merchants in 2015.

Australia Post’s CEO and managing director Ahmed Fahour said the announcement was part of a continued partnership with both China UnionPay and Bank of China to establish ease of travel between the two countries.

“More than 400,000 Australians are expected to travel to China in 2015,” Fahour said.

“This is just another example of how we’re extending our range of trusted services to respond to the changing needs of customers, both in our physical and digital networks.”

Bank of China Chairman Tian Guoli also commented on the launch, saying this multi-currency travel card is one of the exciting results to come out of the Australia-China strategic partnership.

"Bank of China will draw on its outstanding business expertise and superiority to assist the Travel Prepaid Card to stimulate and drive the exchange of personnel between our two countries," Guoli said.

The UnionPay Prepaid Travel card can be used to access cash, or make payments in China and around the globe, in person or online, wherever UnionPay cards are accepted, and will be available at more than 3,300 Post Offices from December 2014.

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