Bank of China, UnionPay International unveil travel card in Southeast Asia

It's already available in 3 countries.

Bank of China (BOC) and UnionPay International (UnionPay) today jointly launched the first BOC UnionPay Travel Card in Southeast Asia offering cardholders privileges and discounts for tourism and hospitality attractions in China and the wider region.

The card is now available in Singapore (credit card), Malaysia (pre-paid card) and Vietnam (debit card), and will be gradually introduced to other countries in Southeast Asia in the next twelve months.

Minister Counsellor of Chinese Embassy in Singapore Mr. Zheng Chao and BOC’s key partners in tourism, including China National Tourist Office in Singapore for ASEAN countries, Cathay Pacific, China Southern, China Eastern and Hertz attended the launch at Singapore.

Bank of China Executive Vice President Mr. Zhu Shumin said, “The economic and trade relations between China and countries in Southeast Asia have strengthened over the last few years. According to statistics, trade volumes between China and ASEAN countries increased from US$54.767 billion in 2002 to US$400 billion in 2012, making China ASEAN’s largest trading and import partner.”

“Meanwhile, the number of visitors to China from Southeast Asia is growing as well. Between January and September this year, over 2.38 million people visited China from Singapore, Thailand, Indonesia and Malaysia. The BOC Travel Card is designed to meet their needs.”

“The Card gives cardholders access to UnionPay’s vast international payments network, and Bank of China’s leading Renminbi cross-border clearance ability. Combined with privileges and special offers for tourist attractions, hotels, insurance and shopping both in China and the cardholders’ home country, the card offers many benefits for frequent travellers to China,” Mr Zhu said.

Cardholders can receive discounts for tickets to over 700 places of interest in China and get exclusive travel, dining, shopping, entertainment and car rental offers from more than 1,000 Chinese merchants and over 5,000 global merchants. BOC Travel credit card issued in Singapore also gives Cardmembers complimentary access to 14 Plaza Premium airport lounges worldwide, 10% cash rebate at OG and BHG department stores, as well as double rewards points on all overseas spend.

CEO of UnionPay International, Mr. Cai Jianbo said, “Many Southeast Asian countries are China’s important trade partners. The number of visitors from Singapore to China continues to grow in recent years, creating a strong demand for cross-border payment. Bank of China is an important global strategic partner for UnionPay International and both parties work in cooperation to improve the service system for UnionPay cards. BOC UnionPay Travel Card integrates top quality resources from both parties and is launched in various markets in Southeast Asia. It is indeed a reflection of UnionPay’s commitment to providing convenient and rewarding payment services to more cardholders across the region.”

Mr Zhu continued, “Bank of China and UnionPay have established a long-term strategic partnership. Bank of China’s branches in Singapore, Bangkok, Jakarta, Manila, Ho Chi Minh and Phnom Penh have all issued credit, debit and pre-paid cards co-branded with UnionPay. The launch of BOC Travel Card in Southeast Asia will further strengthen our partnership. I would also like to thank the China National Tourism Administration (CNTA) for its strong support.”

“The BOC Travel Card demonstrates Bank of China’s commitment to providing customers with value-added products and services. We will continue to offer the best financial services and products to our customers, through our global network and strong local expertise,” concluded Mr. Zhu.