UnionPay International has signed an agreement with Australian Post to debut its "Load & Go China" CNY and AUD UnionPay IC card in Australia.
The "Load & Go China" travel card, targeted at Australian residents frequently travelling between Australia, China and other Asia-Pacific countries, will support online payment and will provide catering, travel, hotel, shopping and various other privileges for cardholders during their international travel.
The CNY and AUD dual-currency UnionPay card, which can be used on the global UnionPay acceptance network, will allow conversions between the two currencies based on the exchange rate and exempting cardholders from the 1%-2% currency conversion fee when using the card in China.
In case of insufficient balance in CNY account, the balance in the AUD account will be automatically converted based on the exchange rate to fill the balance shortage, without charging commission fees.
The new card, secured with UnionPay chip card technology, will be capable of being recharged at any local bank in Australia.
UnionPay International CEO Cai Jianbo said: "We are glad to see the launch of the card in Australia to support the personnel exchanges between the two countries more effectively.
"As the next step, we will continue to enhance our cooperation with major Australian institutions, make breakthroughs in large-scale card issuance and bring local residents with more diversified UnionPay card products."