UnionPay International and Australian Post jointly announced on May 5 the "Load & Go China" CNY and AUD UnionPay IC card (card number starting with 62) is available from today at Australian Post’s more than 4000 outlets. The card is also the first UnionPay IC card issued in Australia, which is expected to provide Australian residents with secure, convenient and preferential payment services.

"The Load & Go China" travel card is an international prepaid card which is mainly targeted at Australian residents who frequently travel between Australia, China and other Asia-Pacific countries. The card can be used on the global UnionPay acceptance network, supports the online payment, and provides catering, travel, hotel, shopping and other various exclusive privileges for cardholders during their international travel. Australian Post is the largest local financial product distributor. Its enormous outlets in Australia can provide convenience for local residents to apply for a UnionPay card.

The CNY and AUD dual-currency UnionPay card can make conversions between the two currencies based on the current exchange rate, locking the exchange rate and giving cardholders more preferential payment experience. In the meantime, cardholders will be exempted 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 current exchange rate to fill the balance shortage, without charging commission fees. Cardholders can recharge the card at a local bank in Australia. In addition, the highly secure UnionPay chip card technology will guarantee the security of cardholders’ card-using experience.

Cai Jianbo, CEO of UnionPay International, said, UnionPay and Australia Post signed an agreement on card issuance in the presence of Chinese and Australian government leaders last year. 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.

Ahmed Fahour, CEO of Australia Post, said, China is one of the overseas tourist destinations most frequently visited by Australian residents. The UnionPay card issued this time will provide more convenient payment services for Australians travelling to China and will significantly improve the card-using experience of cardholders.

Currently in Australia, UnionPay cards are accepted by 70% of ATMs and nearly 50% of merchants. UnionPay cards can also be used to pay in 97% of taxies and to get travel tax refund in 15 customs ports. Besides, the UnionPay card cross-border online tuition payment service are available at almost all institutions of higher learning, and more and more online merchants accept payment with UnionPay cards. Prior to the latest development, UnionPay International has issued CNY and AUD dual-currency UnionPay debit card and prepaid card in Australia in cooperation with Bank of China.