UnionPay International cooperates with Development Bank of Singapore (DBS) in issuing the UnionPay platinum debit card (card number starting with 62). It is not only the first UnionPay card issued by the largest commercial bank in Singapore, but also the first UnionPay card with functions of UnionPay QuickPass, online payment and local transportation payment issued in the market.
DBS, the largest commercial bank in Singapore and the Southeast Asia, has enabled all of its ATMs and over 8,000 merchants to accept UnionPay cards. Since the end of last year, DBS has successively enabled its merchants to accept UnionPay QuickPass, in order to offer more flexible and convenient payment experience to UnionPay cardholders. UnionPay QuickPass has been recognized by an increasing number of the local merchants. This time, the two sides further extend their cooperation to the field of local card-issuance.
The UnionPay platinum debit card issued this time is an international payment card that can be used in UnionPay’s global acceptance network in 157 countries and regions. Also, it has several innovative features: 1) It is equipped with UnionPay QuickPass function, and can realize “tap-and-go” payment at the over 7 million QuickPass terminals globally. 2) It can be used as the local transportation card in Singapore. Cardholders can take the local bus, subway and taxi by simply tapping the card, which realizes the combination of bankcard and transportation card.
Ge Huayong, Chairman of China UnionPay, said, the continuously deepened cooperation between UnionPay and DBS in recent years is an epitome of the increasingly closer financial cooperation between China and Singapore. This card issuance marks significant breakthrough of UnionPay’s business in Singapore, which not only offers a new payment option for the local residents, but also serves as a model for other institutions in Southeast Asia on issuing UnionPay cards. Based on the features of various markets in Southeast Asia, we will promote the localization of our business through diversified measures, and support bilateral cooperation and personnel exchanges.
She Linfa, Chairman of DBS said, we are very glad to issue the first UnionPay credit card together with UnionPay. It will provide payment convenience for Singaporean residents who visit China. The card issuance marks a new starting point for the two sides’ cooperation, and is also a significant achievement of the deepened financial cooperation between China and Singapore. We believe our customers will prefer using this card in various parts of the world, enjoying the rich exclusive privileges and services offered by UnionPay.
Currently, Southeast Asia is accelerating the localization of UnionPay’s business. As almost all ATMs and over 80% of the merchants in Singapore have accepted UnionPay cards, several local institutions have issued various UnionPay card products, which are used increasingly frequently both in and outside Singapore. Meanwhile, UnionPay International has made continuous efforts to enrich the privileges and services for the local cardholders. For instance, it has set UnionPay VIP counter at the Chinese Visa Application Service Center in Singapore, to provide exclusive service for the local cardholders’ application for the Chinese visa. On the “Great Singapore Sale” to be launched this June, UnionPay will be the single official payment brand.