UnionPay spreading wings beyond China

on September 23 2014 | in Daily Headlines | by | with No Comments

Tourists from China who travel to various destinations in Asia may soon find a familiar sign welcoming them at busy airports and sprawling stores. The logo of UnionPay, the Chinese payment solutions provider, is now prominently visible at the round-the-clock fast fashion retailers of Dongdaemun in Seoul and even in the duty-free stores at the sprawling Changi Airport in Singapore.

With a swipe of the UnionPay card, travelers can pay taxi fares, shop at the VIP lounges in shopping malls, or even dine on Bak Kut The – a famous Malay dish – at nameless fishcake stalls.

Sam Zhao, senior manager of business development with Valiram Group at Resorts World Sentosa in Singapore, says UnionPay cardholders are shopping so generously that no merchant can resist acceptance of the card.

“We have a wide range of luxury brands here, and UnionPay card holders can enjoy exclusive privileges and discounts,” said Zhao.

Nix Tang, senior marketing manager of Sentosa Leisure Management Pte Ltd, said discounts may vary from 5 percent to up to 15 percent, and the privileges range from using VIP rooms to free limousine transportation to shopping destinations.

Most of the merchants are eyeing the booming purchasing power of Chinese outbound travelers, among which more than 90 percent use UnionPay cards.

According to the California-based Nilson Report, UnionPay already enjoys an almost 100 percent recognition in China’s domestic market.

Read more at ECNS.

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