ComBank links ATMs to China UnionPay
Holders of UnionPay credit and debit cards can now withdraw money
from more than 500 ATM terminals in Sri Lanka of the Commercial Bank of
Ceylon, under a partnership between the bank and China UnionPay.
This partnership between the country’s largest private bank and one
of the world’s largest payment card schemes, will facilitate visits to
Sri Lanka by tourists and business people from China, the bank said.
Commercial Bank is the first Sri Lankan bank to link its ATMs with
UnionPay, enabling Sri Lanka to offer wider acceptance of UnionPay
cards, which are accepted in 125 countries and regions besides China.
“As the largest automated cash dispensing system in Sri Lanka, the
Commercial Bank ATM network can significantly support the emergence of
China as an important market for tourism and trade,” said Thusitha
Suraweera, Chief Manager of Commercial Bank Card Centre .
“The partnership between UnionPay and Commercial Bank also has the
potential to evolve further to offer wider services to visitors in the
future,” Suraweera said.
In late 2011 the Commercial Bank of Ceylon began offering customers
the option of transacting in Chinese Yuan for import and export dealings
with counterparts in the People’s Republic of China, following the
inclusion of the ‘Renminbi’ as one of the designated currencies in Sri
Lanka by the Central Bank. Consequently, Commercial Bank customers can
now receive quotations, open LCs and make payments in Yuan, instead of
US $, the currency previously used for dealings with businesses in
China.
Commercial Bank has also enabled customers maintaining Non Resident
Foreign Currency (NRFC) accounts at the bank to hold their funds in Yuan
if they wish to do so.
China UnionPay operates the inter-bank clearing and settlement
system, develops the worldwide UnionPay Card acceptance network and
promotes the issuance and usage of the UnionPay Card as well as other
innovative payment solutions, so as to provide quality, efficient and
safe payment services to cardholders.
To date, the total number of UnionPay Cards issued at home and
overseas has exceeded 2.9 billion. The UnionPay network has been
extended to all cities and rural areas in China. In addition, China
UnionPay has enabled UnionPay Card acceptance in over 125 countries and
regions through extensive cooperation with about 400 institutions around
the world. |