China UnionPay, BOC HK launch dual currency credit card
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Bank of China (Hong Kong) Limited (BOCHK) and China UnionPay jointly launched brand new "Dual Currency Credit Card Shenzhen-Hong Kong Cross Border Autopay Service" on Monday, aiming to provide a convenient cross border payment service for customers who frequently travel between Shenzhen and Hong Kong.
Cardholders could enjoy the autopay service to pay bills of public utilities, TV, telecom and Internet in Shenzhen, said the bank.
Bill payments to designated merchants in Shenzhen include China Southern Power Grid, Shenzhen Gas Corporation, Topway Cable TV, Topway Broadband, China Mobile GoTone and China Telecom and China Unicom Mobile Service, etc., according to BOCHK.
General Manager of China UnionPay's Hong Kong Branch, Larry Wang, said as economic interactions between Hong Kong and neighboring Shenzhen grew rapidly, a convenient bill payment service was highly needed.
China UnionPay had officially launched the "China UnionPay Cross-Border Payment Service" on Friday, providing a brand new cross border payment platform for all the member institutions, he said.
BOC Credit Card (International) Limited General Manager, Dickson So, said the cross border autopay service was one of BOCHK 's projects dedicated to enhancing Guangdong-Hong Kong co- operation.
"In the course of promoting the Guangdong-Hong Kong co- operation, we always keep a close eye on the market demand and customer needs. We continue to learn from experiences and enhance our services, while committed to serving our customers better with quality services and innovative products," he said.
According to BOCHK, cardholders can register their Dual Currency Credit Card at any of the 1,000 bank branches available in the designated POS Bank Network of Shenzhen Bankunion Easy Business Solution Financial Service Limited in Shenzhen for the autopay service.
A service fee of 8 Chinese yuan (1.2 U.S. dollars) will be applied for every transaction. And before Feb. 28, 2011, cardholders can enjoy a waiver on the bill payment service fee.
BOCHK, established on Oct. 1, 2001, is a leading listed commercial banking group in Hong Kong. It is also one of the three note issuing banks in Hong Kong.
With over 270 branches, 510 ATMs and other distribution channels in Hong Kong, BOCHK offers a range of financial products and services to individual and corporate customers, said the bank.
BOCHK is appointed by the People's Bank of China (the central bank) as the Clearing Bank for Renminbi business in Hong Kong. Last month, BOCHK was authorized as the Clearing Bank of RMB cashnotes business for Chinese Taiwan.
China UnionPay, established in March 2002, is a bankcard association under the approval of the State Council (the cabinet) and the central bank.
At present, Shanghai-based China UnionPay has 36 branches in China, and has opened more than 10 overseas representative offices and branches. China UnionPay has about 300 domestic and overseas associate members and has engaged in cooperation with more than 100 global financial institutions.
