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UnionPay International and the Central Bank of UAE signed an agreement over ATM cooperation recently in Abu Dhabi, agreeing to enable UnionPay card acceptance by all ATMs in the UAE for cash withdrawal and balance inquiry, thus expanding the coverage of UnionPay card acceptance to all merchants and ATMs in the UAE. Shi Wenchao, President of China UnionPay, and Mohammed Ali Bin Zayed, Deputy Governor of the Central Bank of UAE attended the signing ceremony.
Through cooperation with UAE SWITCH, a local switching network under the Central Bank of UAE, UnionPay International will be able to increase the local UnionPay card ATM acceptance coverage from about 50% to 100%. UAE SWITCH is the only local ATM switching network in the UAE and all the 45 local institutions providing ATM services are its members. Through continuous exertion of its network and service advantages in the Middle East, UnionPay has won recognition on the local market and had enabled UnionPay card acceptance by all POS terminals in the UAE prior to the latest agreement.
Shi Wenchao said the UAE and China have maintained close economic and trade exchanges and have constantly deepened cooperation in infrastructure, finance and many other fields. Seizing the opportunities derived from the implementation of the “One Belt, One Road” strategy, UnionPay will work with the Central Bank of UAE and other institutions to explore a more practical and effective mode of cooperation so as to issue UnionPay cards in a large scale as early as possible based on increasingly improved local acceptance environment and make contributions to the bilateral economic, trade and personnel exchanges between China and the UAE.
Mohammed Ali Bin Zayed, President of the Central Bank of UAE said the bank attaches great importance to the cooperation with UnionPay International. UnionPay card not only is a payment tool that is mostly used by outbound Chinese travelers but also is used by more and more people outside China. The latest cooperation will enable UnionPay cards to be accepted by all ATMs and merchants in the UAE, which not only will provide cardholders with more convenient payment services but also will bring more business opportunities to local institutions.
The UAE is one of the destinations popular among tourists and welcomes a large number of UnionPay cardholders coming to the UAE for transit or visit. Currently, local ATMs accepting UnionPay cards are located in places frequently visited by tourists including Dubai and Abu Dhabi. In 2013, UnionPay began to issue UnionPay cards in the UAE in cooperation with local banks and enabled UnionPay card acceptance on the website of Emirates Airlines.
Through cooperation with UAE SWITCH, a local switching network under the Central Bank of UAE, UnionPay International will be able to increase the local UnionPay card ATM acceptance coverage from about 50% to 100%. UAE SWITCH is the only local ATM switching network in the UAE and all the 45 local institutions providing ATM services are its members. Through continuous exertion of its network and service advantages in the Middle East, UnionPay has won recognition on the local market and had enabled UnionPay card acceptance by all POS terminals in the UAE prior to the latest agreement.
Shi Wenchao said the UAE and China have maintained close economic and trade exchanges and have constantly deepened cooperation in infrastructure, finance and many other fields. Seizing the opportunities derived from the implementation of the “One Belt, One Road” strategy, UnionPay will work with the Central Bank of UAE and other institutions to explore a more practical and effective mode of cooperation so as to issue UnionPay cards in a large scale as early as possible based on increasingly improved local acceptance environment and make contributions to the bilateral economic, trade and personnel exchanges between China and the UAE.
Mohammed Ali Bin Zayed, President of the Central Bank of UAE said the bank attaches great importance to the cooperation with UnionPay International. UnionPay card not only is a payment tool that is mostly used by outbound Chinese travelers but also is used by more and more people outside China. The latest cooperation will enable UnionPay cards to be accepted by all ATMs and merchants in the UAE, which not only will provide cardholders with more convenient payment services but also will bring more business opportunities to local institutions.
The UAE is one of the destinations popular among tourists and welcomes a large number of UnionPay cardholders coming to the UAE for transit or visit. Currently, local ATMs accepting UnionPay cards are located in places frequently visited by tourists including Dubai and Abu Dhabi. In 2013, UnionPay began to issue UnionPay cards in the UAE in cooperation with local banks and enabled UnionPay card acceptance on the website of Emirates Airlines.
