UnionPay International, SIX Payment Services, and Bank of China (BOC) have targeted the Chinese travelling to Europe with the launch of a new credit card.
The new offering is the first Europe version of the Travel Mate China UnionPay credit card issued in China.
The card can be used in the UnionPay global acceptance network covering 160 countries and regions across the globe, including nearly two million merchants in 39 countries and regions in Europe.
SIX, which has been UnionPay’s European acquiring partner for 10 years, will enable its merchants to offer exclusive privileges for UnionPay cardholders.
Cardholders can enjoy all the privileges entitled to all Travel Mate China cards, including the cash-back offered by many merchants in Hong Kong, Macau, Taiwan, Japan, South Korea, Thailand and the US.
UnionPay International CEO Cai Jianbo said that the expansion of UnionPay’s acceptance network in Europe has made several breakthroughs in the past few years. Now, about 50% of merchants in Europe accept UnionPay, which meets the payment demands of UnionPay cardholders visiting the region.
“Based on this acceptance foundation, we are accelerating our business expansion in Europe together with institutions in and outside mainland China,” Jianbo added.