Socredo Bank, the largest commercial bank in French Polynesia (also known as Tahiti) is issuing the first local UnionPay card next year, and comprehensively upgrading the cross-border use and online payment of Socredo-issued bankcards.
French Polynesia is a group of South Pacific islands. Over half of the local residents are clients of Socredo Bank. The Bank has enabled all its ATMs and merchants to accept UnionPay cards. Through this cooperation with UnionPay International, Socredo Bank will replace the existing Socredo bankcards into UnionPay cards, and will issue new UnionPay cards on a large scale.
The self-brand bankcards issued by Socredo Bank are only accepted at the local ATMs and POS terminals.
This cooperation will upgrade its products in two aspects: First, the Bank’s cards will be international payment cards which can be used in the UnionPay network across 160 countries and regions. Second, the cards are available for online payment, which satisfies the local residents’ diverse payment needs.
Now, it is increasingly convenient to use UnionPay cards in the South Pacific region. For instance, 50% of ATMs and 30% POS terminals in Tahiti accept UnionPay cards.
In Australia, 90% of ATMs and 65% of POS terminals accept UnionPay, and 80% of the local merchants will accept UnionPay within this year.
In New Zealand, UnionPay cards can be used at over 10,000 merchants and 40% of ATMs. In addition, nine island countries in the South Pacific, namely Fiji,
Papua New Guinea, Vanuatu, Samoa, Tonga, Cook Islands, Solomon Islands, Kiribati and East Timor, have accepted UnionPay.
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