May 6 – UnionPay International and China CYTS Tours Holding Co., Ltd. (hereinafter referred to as “CYTS”) sign an all-round business cooperation agreement for 2014 in Beijing, agreeing to continuously deepen bilateral cooperation, make innovations on card-using service, and provide UnionPay cardholders better tourism payment experience. At the same time, the two sides also announce the launch of the UnionPay overseas card-using reward system. CYTS becomes the first registered user of the system.
With the overseas card-using reward system, the two sides can provide convenient redemption service to UnionPay cardholders that participate in the card-using reward activity. Cardholders may apply for redemption via the system by logging into the cardholder service column on the website of UnionPay International or into the website of CYTS after completion of a UnionPay debit/credit card payment that is in line with redemption conditions. This marks the further improvement of UnionPay International card-using system which will successively register more travel agencies, airline companies, banks, etc., and provide users holding UnionPay cards（with a card number starting with 62） with redemption and related consulting service.
Over the recent years, UnionPay International and CYTS have made constant innovation on their way of cooperation, carried out extensive cooperation on the improvement of UnionPay card overseas acceptance environment, optimization of card-using service, development of tourism products, etc., and jointly provided customers more convenient overseas tourism payment service. This all-round business cooperation will further integrate travel and service resources, give play to the advantages of UnionPay card acceptance network at home and abroad, and provide customers more extensive and convenient services.
Currently, UnionPay cards have become accepted by over 12 million merchants and over 1.1 million ATMs for purchases and cash withdrawal in more than 140 countries and regions, covering almost all major foreign tourist destinations of the Chinese. The growth in the number of merchants is especially evident in many markets in Europe and America. When travelling abroad, UnionPay cardholders can not only make convenient payment with UnionPay cards but also enjoy discounts, gifts, redemption and other exclusive privileges in duty-free shops at 60 international airports and in lots of hot merchants. For card-using overseas, domestic UnionPay cardholders may enjoy exempted currency conversion fee equal to 1%-2% of the transaction amount.
About UnionPay International
UnionPay International (UPI) is a subsidiary of China UnionPay focused on the growth and support of UnionPay’s global business. As a membership organization with over 300 members worldwide, UnionPay International has enabled card acceptance in over 140 countries and issuing in more than 30 countries. UnionPay International provides high quality, cost effective and secure cross-border payment services to the world’s largest cardholder base and ensures convenient local services to a growing number of global UnionPay cardholders and merchants.
For more information on UnionPay International, please visit: www.unionpayintl.com.