Customers of financial services firm, China UnionPay (CUP) now have access to more than 5,800 Cashcard ATMs across Australia, as part of a deal announced today with electronic payments firm, First Data International.
A new joint service between First Data International and CUP provides Chinese visitors access to their cash via Cashcard, the largest ATM network in Australia.
In addition, the companies have reached an agreement to expand their relationship to promote the acceptance of CUP cards in other markets outside China.
The companies will promote the acceptance of CUP cards, in certain global markets, at ATM locations and merchant point-of-sale locations using First Data systems. First Data will also provide transaction routing and payment processing services.
According to Jeffery Huang, vice president for CUP's international division, this announcement is key in facilitating convenient access to cash for the exponentially growing number of CUP members' cardholders visiting Australia.
The increasing expectations from cardholders in China, and around the world, for access to cash anytime, anywhere, places First Data in the ideal position to respond to this growth opportunity.
A/NZ First Data president, Peter Wright, said the deal supports the Chinese government's aim to support global business expansion.