Portugal-based private bank Millennium bcp has signed an agreement to issue UnionPay International’s chip contactless credit cards in its home market from next year.
Under the terms of the agreement, the Portuguese bank will issue approximately 30,000 UnionPay Travel Mate Asia cards next year.
The card will provide new payment options for the Portuguese residents, particularly those who frequently travel to Asia, UnionPay International said.
The credit card will feature UnionPay’s QuickPass technology that enables cardholders to tap and pay using their card at over 10 million POS terminals across the globe.
Furthermore, the two companies also agreed to extend the card-issuing cooperation to other markets where Millennium bcp has a presence.
Commenting on the agreement, Millennium bcp executive committee chairman Nuno Amado said: “This is an important step for Millennium, as it opens the door to a vast and growing market with excellent potential. Not only will we be able to offer our customers in Portugal and in other key markets a new and innovative payment system with increasing acceptance all over the world, but we will also be able to serve international UnionPay customers.”