Chinese payments system operator UnionPay aims to take on global bankcard players Visa and MasterCard in a push for rapid growth in Australia.
This follows years of local trials and is aimed at smoothing the way for Chinese tourists and students spending money in Australia.
In recent weeks, key entertainment and shopping destinations including Crown Casino, The Star in Sydney and Phillip Island have switched their transactional banking services to National Australia Bank, UnionPay’s partner in Australia, to gain access to UnionPay cardholders.
(Source: The Sydney Morning Herald Online)