The launching was marked by an event at Port Moresby’s Stanley Hotel attended by BSP CEO, Robin Fleming, and UnionPay International Chairman, Ge Huayong.
BSP CEO, Robin Fleming, said the launch was a milestone for BSP to tap into UnionPay, especially now with the APEC Summit underway.
“This is a significant milestone in particular for BSP and also for UnionPay for many UnionPay customers who are able to come to PNG are able to use the contactless payments, on all our EFTPOS devices and ATMs,” said Fleming.
“We do appreciate the contribution and support that UnionPay provide us to be able to assist is to launch this additional feature, an initiative just in time for APEC.
“We also look forward to further enhancing our cooperation, and those initiatives to be able to introduce into PNG some of the other contact payment initiatives and process payment which are used in China and similar to PNG.”
UnionPay Chairman, Ge Huayong, said the countries and regions participating in the construction of the China One Belt and Road strategy, which includes PNG, have become major markets where large number of UnionPay cards are issued over the past few years.
“We have more potential to build our international business. Our strategy is that we set up an international network and create a global brand.”
He added: “Thanks to the initiative of the Belt and Road initiative China and PNG have become increasingly closer in trade, energy, agriculture and infrastructure.
“We are bringing the relationship of both countries to the next level.”
Also speaking at the launch was Commercial Counsellor of the Chinese Embassy in PNG, Liu Linlin, who congratulated UPI and BSP for the successful launch.
“The economic and trade cooperation between the two countries has continued to develop. China is committed to supporting the economic and social development of PNG. We appreciate the collaboration between BSP and UnionPay, and believe that it will facilitate the payment interconnection between China and PNG,” said Linlin.
BSP began accepting UnionPay cards in 2011.
UnionPay is a Chinese financial services corporation headquartered in Shanghai, China, providing bank card services and a major card scheme in mainland China.
UnionPay is the world's largest supplier of payment cards, with over 5 billion cards issued.
(BSP CEO, Robin Fleming, left, with UnionPay Chairman, Ge Huayong)