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August 24, 2010

Bank of China and CUP offer dual currency card

Bank of China (BOC) and China Union Pay (CUP)have launched a dual currency credit card which offerscross border payment services for consumers who regularly travel between Shenzhen and Hong Kong. BOC-CUP Dual Currency Credit cardholders can use the autopay service to pay bills for public utilities, TV, telecommunications and internet in Shenzhen

By Verdict Staff

Bank of China (BOC) and China Union Pay (CUP) have launched a dual currency credit card which offers cross border payment services for consumers who regularly travel between Shenzhen and Hong Kong.

BOC-CUP Dual Currency Credit cardholders can use the autopay service to pay bills for public utilities, TV, telecommunications and internet in Shenzhen. The service is currently free but a service fee of CNY8 ($1.20) will be charged for every transaction from February next year.

Bill payments to designated merchants in Shenzhen include China Southern Power Grid, Shenzhen Gas Corporation, Topway Cable TV, Topway Broadband, China Mobile GoTone and China Telecom and China Unicom Mobile Service.

“As the economic interactions between Shenzhen and Hong Kong grow rapidly, a convenient bill payment service is highly needed,” said Larry Wang, vice president of the international division and general manager of the Hong Kong Branch of BOC.

According to BOC, cardholders can register their BOC-CUP Dual Currency Credit Card at branches in the designated POS Bank Network of Shenzhen Bankunion Easy Business Solution Financial Service (EBS) in Shenzhen for the autopay service.

“Shenzhen-Hong Kong Cross Border Autopay Service is among one of our projects dedicated to enhancing Guangdong-Hong Kong co-operation,” said Dickson So, general manager of BOC Credit Card.

“In the course of promoting the Guangdong-Hong Kong co-operation, we always keep a close eye on the market demand and customer needs. We continue to learn from experiences and enhance our services, while committed to serving our customers better with quality services and innovative products.”

Related story: Chinese card growth beginning to slow

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