American payment firm daVinci Payments, in collaboration with UnionPay, has rolled out a Chinese Yuan (CNY) corporate-funded debit card for the staff and customers of multi-national firms.
Using the new daVinci’s prepaid CNY cards, the cardholders can instantly shop in stores and online.
For the newly launch offering, daVinci Payments will provide cash equivalency and CNY conversion from any currency.
Additionally, it will provide balance reporting as well as digital issuance facility to grant instant access to funds and card information.
daVinci senior director and operations partner Maggie O’Toole said: “At daVinci, we serve many global companies that regularly pay and incentivize consumers, employees, and partners in China.
“With the addition of CNY to our platform, we have an enhanced ability to support our customers in issuing real-time funding globally in a seamless and customizable way.”
UnionPay International Americas general manager June Chen said: “daVinci has a deep understanding of the global payments landscape and a successful track record of implementation, therefore we knew it was the right partner for launching this corporate-funded card product that ultimately serves cardholders’ needs and habits.”
The CNY debit card is the new addition to daVinci’s currency product range that includes US dollar, Canadian dollar, Australian dollar, Hong Kong dollar, Euro, British pound, Japanese yen, Swiss franc, and Indian rupee.
daVinci Payments, formerly Swift Prepaid, is owned by Syncapay. Via its digital and physical card payments in over 160 countries, 21 languages, and 10 currencies, daVinci streamlines corporate-funded payments to businesses, their customers, employees, among others.