DBS Bank and UnionPay have been collaborating closely and extensively in the Greater Bay Area (GBA) and the ASEAN regions over the years, to provide services for customers in overseas markets. Building on a foundation of trust and success, this partnership introduces a cross-border financial service tailored for Hong Kong and Macau residents. Additionally, it offers a suite of exclusive privileges and premium benefits within the GBA.
As a global leader in digital banking, DBS Bank introduces this pioneering UnionPay Multi-Currency Diamond debit card, which integrates secured digital technology to elevate customer experiences. The card offers exceptional cross-border payment services and optimises payment experiences for customers in the GBA and beyond. Key features include payment notifications, instant messaging, free travel insurance, shopping insurance, and enhanced security measures to prevent fraud, ensuring a worry-free spending experience. The product is fully digitalized, allowing customers to apply online and use it immediately.
Ajay Mathur, Head of Consumer Banking Group and Wealth Management, DBS Bank (Hong Kong) Limited, stated that in alignment with our strategic initiative to foster the region’s financial integration, DBS Bank and UnionPay International have jointly launched this groundbreaking multi-currency debit card, designed to deliver a seamless cross-border payment experience. DBS Bank’s commitment to innovation enables us to address the diverse demands of both regional and global markets, while enhancing customer experience and security. We strive to empower every customer to transact conveniently, seamlessly and securely around the world, thereby contributing to a sustainable regional economic growth. We are confident that the partnership will offer unparalleled convenience, foster economic interconnectedness, and stimulate vibrant regional development.
Dong Junfeng, Chairman of UnionPay International, stated that as a crucial financial infrastructure and a globally leading international card organisation, UnionPay has actively promoted the “Project Excellence 2024” since the beginning of this year, focusing on enhancing the localization of its international business and expanding its payment services to more global residents. The newly issued multi-currency UnionPay Diamond Debit Card represents the latest business achievement, offering Hong Kong residents more convenient, secure, and preferential payment options for both daily and cross-border consumption. In the future, UnionPay is willing to work with DBS Bank, leveraging the respective strengths and resources of both parties, to further broaden and deepen their cooperation, jointly driving innovation in financial payments, promoting interconnectivity in the payment sector, and building an open and inclusive payment ecosystem.
As the largest bank in Southeast Asia, DBS excels in fintech and green finance while actively promoting regional integration, connecting ASEAN countries with Hong Kong and mainland China, and supporting high-quality regional economic development. With its "Anchored in Asia, Inspired by Global Vision", DBS is committed to delivering innovative financial strategies and exceptional service experiences to clients across Asia, including Greater China. This collaboration with UnionPay International highlights DBS's ability to innovate and create value for clients in the global financial services market.
UnionPay has always upheld the principle of "payment for the people," actively building a global acceptance network that offers "comprehensive, all-scenario, and all-solution" services, currently reaching 183 countries and regions worldwide. This collaboration with DBS Bank focuses on the diverse needs of international business travelers by issuing a multi-currency UnionPay debit card, which can be linked to the Hong Kong-Macau version of the UnionPay mobile payment app. This debit card can be used for transactions at merchants and ATMs in mainland China, as well as for QR code payments on subways in tens of thousands of cities and on buses in all mainland cities. Internationally, it facilitates convenient payments at hundreds of millions of offline merchants and 1.7 million ATMs outside of China, supporting UnionPay QR code payments at more than 8 million merchants across 46 countries and regions, with over 19 million POS terminals available for quick transactions. Moving forward, UnionPay will continuously deepening international cooperation with industry organizations and striving to provide consumers with more convenient, safe, and affordable payment options.
The DBS Multi-Currency Diamond debit card by DBS Bank and UnionPay International milestone marks an important advancement toward more efficient and convenient financial services, further driving innovation and development in the financial services market.
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About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia“ award by Global Finance for 16 consecutive years from 2009 to 2024.DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting social enterprises: businesses with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping communities with future-ready skills and building food resilience.With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
About UnionPay International
UnionPay International (UPI) is a subsidiary of China UnionPay focused on the growth and support of UnionPay's global business. In partnership with more than 2600 institutions worldwide, UnionPay International has enabled card acceptance in 183 countries and regions with issuance in 84 countries and regions. UnionPay International provides high quality, cost effective and secure cross-border payment services to the world's largest cardholder base and ensures convenient local services to a growing number of global UnionPay cardholders and merchants. For more information: https://www.unionpayintl.com/en/
