UnionPay cards in Canada con­tinue to grow

China Daily (Canada) - - FRONT PAGE - By WANG RU wan­gru@chi­nadaily.com.cn

China’s largest bankcard brand – UnionPay – and Canada’s TD Mer­chant Ser­vices an­nounced this month that they have en­tered into an agree­ment to ac­cept UnionPay cards be­gin­ning later this year.

The two sides agreed to en­able 100,000 mer­chants within a three-year pe­riod, main­tain­ing UnionPay’s in­no­va­tive pay­ment meth­ods, in­clud­ing con­tact-less pay­ment with UnionPay chip cards.

Cai Jianbo, CEO of UnionPay In­ter­na­tional, Larry Wang, chief busi­ness devel­op­ment of­fi­cer of UnionPay In­ter­na­tional, and Jeff van Duyn­hoven, pres­i­dent of TD Mer­chant Ser­vices, were at the sign­ing cer­e­mony in Shang­hai on Fe­bru­ary 10.

“As the UnionPay net­work con­tin­ues to ex­pand in the over­seas mar­kets and the ser­vices keep im­prov­ing, UnionPay cards have be­come out­bound Chi­nese trav­el­ers’ first pay­ment choice and are cur­rently ac­cepted by over 80 per­cent of the lo­cal ATMs and tens of thou­sands of mer­chants in Canada,” said Larry Wang.

“More than 400,000 Chi­nese tourists vis­ited Canada last year and UnionPay cards pro­vided them with con­ve­nient and se­cure ser­vices. TD’s busi­nesses cover many re­gions in North Amer­ica and we will deepen our co­op­er­a­tion to con­tinue to ex­pand the UnionPay card ac­cep­tance and pro­vide card­hold­ers with di­ver­si­fied pay­ment ser­vices,” he said.

Song Qin­grun, a re­searcher ofMyan­marstud­ies at theChina In­sti­tutes of Con­tem­po­rary In­ter­na­tional Re­la­tions, said that China has never backed eth­nic forces in com­bat against the Myan­mar gov­ern- ment, and that spec­u­la­tion about China’s role be­hind the scenes would only un­der­mine mu­tual trust.

In an­other devel­op­ment, Hong said com­pa­nies from China and Cam­bo­dia have been study­ing co­op­er­a­tion on hy­dro­elec­tric­ity.

The re­marks fol­lowed Cam­bo­dian Prime Min­is­ter Hun Sen’s an­nounce­ment on Tues­day that con­struc­tion of a mega-dam in south­west­ern Cam­bo­dia will not begin un­til 2018. China is the largest in­vestor in de­vel­op­ing hy­dro­elec­tric plants in Cam­bo­dia, which faces elec­tric­ity short­ages. Some groups have claimed the dam will dam­age the en­vi­ron­ment.

Hong said, “We make it a re­quire­ment that rel­e­vant projects should meet Cam­bo­dia’s laws and reg­u­la­tions on en­vi­ron­men­tal pro­tec­tion.”

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