UnionPay, an international payment network, continues its expansion in Thailand with the announcement of two new card issuing banks. From June 2016, Kiatnakin Bank and Land and House Bank will join Bangkok Bank, Bank of China (Thai), ICBC Thai, Kasikorn Bank, and Krungthai Bank in issuing UnionPay debit and credit cards.
Acceptance of UnionPay cards is also on the increase, with near complete nationwide coverage of ATMs and almost 90% of merchants now accepting UnionPay cards. This includes a wide variety of merchants and Thai cardholders can pay using their UnionPay debit or credit card at large department stores, airports and downtown duty-free shops, hotels and tourist attractions, as well as everyday spend merchants like convenience stores, chain supermarkets, cinemas and restaurants.
“Thailand is a very important market for UnionPay International and we are delighted to see there are increasingly more opportunities for consumers to shop and pay using their UnionPay cards. We are intensifying our efforts to meet growing demand by expanding our acceptance network and enlarging our issuance scale both locally and regionally. In Thailand, we are bolstering card issuance by expanding our debit and credit portfolios rapidly to meet the specific demands of the market, and the addition of new card issuing banks will will offer more choices to Thai consumers and businesses. We are delighted to welcome both Kiatnakin Bank and Land and House Bank as valued partners to our growing network of card issuers,” said Wenhui Yang, General Manager of UnionPay International Southeast Asia.
“Debit card usage is growing in Thailand and it is important we are able to support our customers’ needs. The introduction of the Kiatnakin Bank UnionPay debit card addresses these needs as well as giving our customers access to a global network, meaning they can use the card when they travel as well as in Thailand. We have worked closely with UnionPay International to introduce this card and we look forward to a long and fruitful relationship,” said Mr. Aphinant Klewpatinond, President and Chairman of Commercial Banking Business, Kiatnakin Bank.
Mrs.Sasitorn Pongsatorn, President, LH Bank Public Company Limited, commented “LH Bank is committed to continuous development of our products and services. We have joined with Union Pay to launch the LH Bank Debit Chip Card as this will help make financial transactions or bill payment services without cash easier for our customers, who will also be able to benefit from discounts or privileges around the world. We believe the new LH Bank Debit Chip Card with UnionPay will meet our client’s financial lifestyle needs. New cards can be issued free of charge and withdrawing money from any ATM will also be free of charge with unlimited access nationwide.
For those who are interested, the bank will offer free annual fee for the first year.
UnionPay cardholders benefit from extensive range of benefits
UnionPay cardholders can benefit from promotions and offers from a range of businesses in Thailand. Throughout June and July, holders of the recently launched Bangkok Bank Be1st Smart TPN UnionPay card will receive a 50% discount when buying movie tickets for any seat at Major Cineplex branches around Thailand. Travelers can also benefit when using their UnionPay debit or credit card at King Power shops at airports and duty free shops in Thailand. When spending THB 15,000 or more in a single receipt between now and August 31st, Union Pay cardholders can enjoy a THB 500 discount.
UnionPay cardholders in Thailand can also enjoy special discounts and privileges at their favourite destinations such as Singapore, Tokyo, Osaka, Seoul, Hong Kong, Taipei, Kuala Lumpur, Paris and London as part of the company’s 2016 Global Airport Campaign which features 120 participating duty-free shops at 80 airports, including 16 of the busiest airports across the world.
In addition to extensive benefits, UnionPay card members benefit from secure and convenient cashless ATM and POS transactions in 160 countries and regions including Thailand that accept the UnionPay card.