Bank of China (BOC) has teamed up with UnionPay International to launch a new travel card, BOC UnionPay Travel Card, in Southeast Asia that offers cardholders with discounts on tourism and hospitality in China.
The new card offers discounts on tickets at over 700 places in China and on travel, dining, shopping, entertainment, and car rentals at more than 1,000 Chinese merchants and over 5,000 global merchants.
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The card is currently available in Singapore as credit card, in Malaysia as pre-paid card and in Vietnam as debit card. The companies will gradually make it available in other Southeast Asian countries in the next twelve months.
In Singapore, the card offers users a complementary access to 14 Plaza Premium airport lounges throughout the world, 10% cash rebate at OG and BHG department stores, and double rewards points on all overseas spending.
BOC executive vice president Zhu Shumin said according to statistics, trade volumes between China and ASEAN countries increased from $54.767bn in 2002 to $400bn in 2012, making China as ASEAN’s largest trading and import partner.
"Meanwhile, the number of visitors to China from Southeast Asia is growing as well. Between January and September this year, over 2.38 million people visited China from Singapore, Thailand, Indonesia and Malaysia. The BOC Travel Card is designed to meet their needs.
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By GlobalData"The Card gives cardholders access to UnionPay’s vast international payments network, and Bank of China’s leading Renminbi cross-border clearance ability," Shumin added.
"Combined with privileges and special offers for tourist attractions, hotels, insurance and shopping both in China and the cardholders’ home country, the card offer many benefits for frequent travellers to China."
