ABA Bank welcomes China UnionPay cards!

06/03/2014

ABA Bank welcomes China UnionPay cards!

ABA Bank has signed the agreement with China UnionPay and became an active participant of the one of the largest payment systems along with hundreds of other leading banks. Effective from March 1, 2014 all ABA Bank ATMs accept China UnionPay payment cards, so all the respective cardholders can easily withdraw cash in more than 60 ATMs across Cambodia.

The importance of this partnership is obvious: economic and trade ties of Cambodia with other countries are strengthening, tourist attractiveness of the country is also rising. All this, in turn, leads to an increase in business activity and use of different payment systems. China UnionPay system is very well represented in the region and the number of its cards will only grow from year to year. All that makes the cooperation of ABA Bank and China UnionPay logical in terms of business expansion and better service for the customers.

Head of Card Services Department, Mr. Sanzhar Abdullayev in particular said, "Launch of servicing the payment cards from China UnionPay is a significant step to expand our cards service and increase the service portfolio. We see a great potential in cooperation with this bankcard system.Our next step is accepting China UnionPay cards in retail outlets equipped with our POS-terminals. Currently, we are carrying out the necessary development works, and schedule the launch of this service for early April 2014."

According to its official representatives, China UnionPay is a bankcard association established under the approval of the State Council and the People’s Bank of China. At present, the Shanghai-headquartered UnionPay has about 400 domestic and overseas associate members. As of today, UnionPay is the largest payment system in the world in terms of amount of circulating cards. The cards from China UnionPay are accepted in 141 countries and regions outside China. Meanwhile, UnionPay also actively promotes issuance of UnionPay standard cards overseas, with a goal of providing payment convenience for foreigners in their work, travel and study in China. At present, 65 institutions in 17 overseas countries and regions have issued UnionPay card locally.