Australian Post and UnionPay International have launched the “Load & Go China” CNY and AUD UnionPay chip card. The new prepaid card is available at Australia Post’s more than 4000 outlets.
The card is the first UnionPay chip card issued in Australia.
“The Load & Go China” travel card is an international prepaid card which is mainly targeted at Australian residents who frequently travel between Australia, China and other Asia-Pacific countries. The card can be used on the global UnionPay acceptance network, supports the online payment, and provides catering, travel, hotel, shopping and other various exclusive privileges for cardholders during their international travel.
The CNY and AUD dual-currency UnionPay card can make conversions between the two currencies based on the current exchange rate, locking the exchange rate and giving cardholders more preferential payment experience. In the meantime, cardholders will be exempted from the 1%-2% currency conversion fee when using the card in China. In case of insufficient balance in CNY account, the balance in the AUD account will be automatically converted based on the current exchange rate to fill the balance shortage, without charging commission fees. Cardholders can recharge the card at a local bank in Australia.
Currently in Australia, UnionPay cards are accepted by 70% of ATMs and nearly 50% of merchants. UnionPay cards can also be used to pay in 97% of taxies and to get travel tax refund in 15 customs ports. Besides, the UnionPay card cross-border online tuition payment service are available at almost all institutions of higher learning, and more and more online merchants accept payment with UnionPay cards. Prior to the latest development, UnionPay International has issued CNY and AUD dual-currency UnionPay debit card and prepaid card in Australia in cooperation with Bank of China.
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