CEO of UnionPay International Cai Jianbo (2nd left), Vice Chairman and President of BOC Hong Kong Yue Yi (3rd left), and Chairman of China Mobile Hong Kong Li Feng (3rd right) attended the card issuing ceremony

On November 14, UnionPay International announced that it has cooperated with Bank of China (Hong Kong) Limited (hereinafter referred to as “BOC Hong Kong”) and China Mobile Hong Kong in issuing BOC – China Mobile Dual-currency Diamond Card in Hong Kong, offering abundant and tailored card-using privileges to the local business travelers. CEO of UnionPay International Cai Jianbo, Vice Chairman and President of BOC Hong Kong Yue Yi, and Chairman of China Mobile Hong Kong Li Feng attended the card issuing ceremony.

Now, UnionPay is accepted at almost all ATMs and POS terminals in Hong Kong, and has become a major payment method of Hong Kong residents in their daily life and global travels. Latest data show that over 16 million UnionPay cards are issued in Hong Kong and these cards are frequently used in over 110 countries and regions. Among all the newly-issued credit cards in Hong Kong, half of them are UnionPay cards, and over 90% of these UnionPay credit cards are premium cards. UnionPay International is also promoting its innovative services in Hong Kong. Now, UnionPay mobile QuickPass is accepted at about 20,000 POS terminals at SOGO, 7-11, Mannings and Tsui Wah Restaurant. UnionPay QR Code payment was launched in Hong Kong this June.

The dual-currency UnionPay credit card to be issued this time is accepted in over 160 countries and regions. The card has both RMB and HKD accounts. Spending in mainland China will be settled in RMB to save the cost of currency exchange, and spending in Hong Kong and other regions will be settled in HKD. In addition, UnionPay International provides premium privileges including discounts at starred restaurants and entertainment establishments, airport pickup service, airport VIP lounge accessibility and free travel insurance. China Mobile Hong Kong provides a series of privileges including top-up discount and multifold bonus points to optimize user experiences.

Cai Jianbo said, in the “going abroad” of Chinese enterprises, UnionPay insists on collaborating with all industry players to complement each other’s advantages. BOC Hong Kong has been issuing UnionPay dual-currency credit cards for ten consecutive years, and has been optimizing product functions and value-added privileges together with UnionPay. This new cooperation offers cardholders multi-aspect privileges, further enriching the UnionPay product portfolio in Hong Kong, and enhancing the financial service level for customers. In the future, UnionPay will further explore cooperation opportunities in mobile payment with various players in the Hong Kong market to realize a win-win situation.

Yue Yi said, the co-branded cards issued this time will give full play to the business advantages of the three parties, not only offering richer cross-border financial and communications services to cardholders, but also sharpening each of the three parties’ cross-border business edges.

Li Feng said, it is an honor to cooperate with UnionPay International and BOC Hong Kong, to integrate each party’ resources and make cross-border financial services and mobile communications services closer and complementary. This will enhance the competitiveness of products and services of the three.

At present, more than 81 million UnionPay cards are issued outside the Chinese Mainland, and large numbers of UnionPay premium cards (platinum cards and diamond cards) are issued in Hong Kong, Macau, Southeast Asia, Russia and Central Asia. In this context, UnionPay International continues to improve its premium card service platform, incorporating premium catering, global assistance, global concierge and airport VIP lounge accessibility into the platform to offer tailored card-using privileges to cardholders.