Australian bank Westpac has signed an agreement to accept UnionPay cards by all its merchants in Australia in the next two years.
As part of the agreement, UnionPay cards will be accepted by Westpac’s 150,000 POS terminals in Australia.
The UnionPay card acceptance by merchants in Australia is expected to increase to over 80% by the end of 2016.
In April 2014, Westpac has entered into an agreement to accept UnionPay cards in Australia via ATMs, merchant terminals and online payment facilities.
During the end of 2014, Westpac started accepting UnionPay cards at its ATM’s in Australia and island countries including Fiji.
Also, both the companies are planning to expand their partnership to more areas such as contactless payment, local card issuance and online payment.