Cuscal rediATM partnership with UPI
Agreement provides immediate rediATM access for potential 4.2 billion UnionPay cardholders
Sydney, 14 April 2014: End to end payments leader Cuscal has today announced that an ATM access partnership has been established with UnionPay. With over 4.2 billion cards on issue, UnionPay cardholders will have immediate easy access to Cuscal’s rediATM network across Australia.
UnionPay International (UPI) is a subsidiary of China UnionPay, China’s largest card scheme established in March 2002, focused on the growth and support of UnionPay’s global business. Under the new partnership, UnionPay cardholders who visit Australia will now be able to draw cash from approximately 2,500 of the rediATM branded machines operated by Cuscal and the National Australia Bank.
Today’s announcement follows Prime Minister Tony Abbott’s official visit to China last week where he led the inaugural “Australia Week in China” to promote trade and investment links. According to Tourism Australia, China is Australia’s most valuable inbound tourism market. Presently 700,000 Chinese tourists visit Australia per year and spend on average AUD$7,000 per visit. By 2020, according to new figures released by Tourism Australia1, the number of Chinese visitors per year is forecast to exceed one million tourists who will collectively contribute $13 billion a year to the Australian economy.
Chief Representative of UPI South Pacific Region, James Yang claimed, “Cuscal’s rediATM network is very appealing thanks to its unique operation module, good locations and stunning logo display. With this agreement two thirds of the rediATM network will be able to service UnionPay cardholders, which could provide convenience withdraw services for visitors from mainland China, Hong Kong, Singapore, Korea, Japan and rest of the world. UnionPay looks forward to further enhancing its solid collaboration with Cuscal.”
“China is one of Australia’s most significant neighbours on many levels and the growing Chinese tourism market will become even more important for Australia’s future economy,” said Craig Kennedy, Managing Director of Cuscal. “It is therefore imperative that Australia’s financial system infrastructure is well prepared to accommodate this growth and meet the anticipated payments needs of future visitors from China and elsewhere in the world.”
The UnionPay partnership and access to rediATM will be promoted via a gradual roll-out of UnionPay logo decals on the ATMs, as well as on-screen promotions, UnionPay’s website and inbound tourism brochures.
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.
Cuscal is a world-class end-to-end payments leader which provides more than 150 established and challenger brand clients (including banks, customer owned financial institutions such as Credit Unions and Mutual Banks, airlines and government bodies) with access to Australia’s financial system and payments landscape.
For further information on Cuscal, please visit www.cuscal.com.au.
The rediATM network is one of Australia’s largest ATM networks. With over 3,000 rediATMs across Australia, it partners with over 100 financial institutions including credit unions, building societies and banks.
The rediATM network provides direct charge free access to over 8 million Australian cardholders.
For further information on the rediATM network please visit http://www.rediatm.com.au.
To arrange an interview or for further information, please contact:
M: 0414 532 552 E: email@example.com