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S. African bank launches UnionPay card for prompt payment in China

(Xinhua)    10:23, December 13, 2019

JOHANNESBURG, Dec. 12 (Xinhua) -- The Standard Bank of South Africa launched UnionPay card on Thursday to local account holders for more convenience in payment in China.

The card is available in both virtual and physical form on the bank's Shyft app. The app allows pre-loaded South African rands to be exchanged into multiple currencies and then loaded into a physical UnionPay card.

Zhang Luping, general manager of the UnionPay International Africa branch, said UnionPay is excited to work with Standard Bank, which is the first African bank to receive the license to issue UnionPay card in the country.

"With the UnionPay card, transacting in China becomes both easier and safer for South African tourists and visitors on business," said Ethel Nyembe, head of card issuance at Standard Bank.

"They can go about their activities and purchase goods from suppliers, for example, in a cashless manner, reducing some of the previous risks involved," she said.

Nyembe said the UnionPay card is accepted through most mobile payment apps, which are hugely popular in China.

The UnionPay global acceptance network has expanded to 177 countries and regions so far, covering over 56 million merchants and over 4.6 million ATMs. About 8 billion UnionPay cards have been issued in 58 countries and regions with over 130 million being used outside the Chinese mainland.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Shi Xi, Bianji)

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