As a pioneer of China UnionPay Card Payment Service in Hong Kong, BOC Credit Card launches the UnionPay Card Payment Service since 18 January, 2004. SPECTRA Technologies has already set-up more than 2,500 sets S9010 terminals at most of major merchant sales points, so Mainland UnionPay cardholders can enjoy shopping and leisure privileges in Hong Kong.
"UnionPay Card Payment Service in Hong Kong" is tailor-made for the Mainland residents traveling in Hong Kong. UnionPay cardholders can enjoy speedy service by swiping their cards through POS terminals, without the trouble of carrying bulk cash. This service is launched at a right timing to capture the peak period of the Mainland travellers to Hong Kong during the Chinese New Year long holidays.
China UnionPay card, approved by the PBOC, is issued by 88 financial institutions in the Mainland of China. Nowadays, there are over 650 million cards issued, including both debit and credit cards, which are widely used by the Mainland residents. For cardholders using "UnionPay Card Payment Service in Hong Kong", RMB is adopted as the settlement currency for all transactions made in Hong Kong dollar. For local merchants, their settlement currency will be Hong Kong dollar for all transactions conducted in Hong Kong dollar. The merchants will therefore be exempted from exchange difference between the two currencies.
BOC Credit Card has joined hands with a number of renowned merchants to offer "UnionPay Card Payment Service" covering various industries such as large department stores, brand boutiques, chain stores, jewelry, audio equipment and appliances, telecommunications products, cosmetics, restaurants, optical goods, dry seafood and Chinese medicine shops, book shops, leisure and entertainment.
