Sampath Bank in Colombo has inked a deal with UnionPay to declare all the ATMs under the flag of the bank would accept UnionPay cards and the acceptance of UnionPay cards by all POS terminals owned by the bank will be realized gradually.
In addition, the two sides will cooperate in cross-border online payment. Chen Zhi, vice chairman of China UnionPay, and Aravinda Perera, director of Sampath Bank, attended the signing ceremony with the presence of representatives of some Chinese financial institutions.
As an emerging tourist destination, Sri Lanka plans to attract over one million Chinese tourists in the following five years. In the meantime, over 50,000 Chinese stay in Sri Lanka to support the government aid programs at present. This cooperation will expand UnionPay card acceptance and deliver better payment services to tourist and resident cardholders. Upon reaching the cooperation agreement, about 30% of the local ATMs will accept UnionPay cards and near 700 POS terminals under the flag of Sampath will accept UnionPay cards by the end of this year.
In South Asia, acceptance of UnionPay cards covers 90% of ATMs and merchants in Maldives. In Pakistan, 70% of ATMs and nearly 90% of POS terminals accept UnionPay cards. Besides, UnionPay cards are issued in Nepal and Pakistan.
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