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China's UnionPay joins up with Australia's Cuscal for rediATM access

April 17, 2014

End-to-end payments provider Cuscal has established an ATM access partnership with the Chinese card network UnionPay International. UnionPay cardholders who visit Australia will be able to draw cash from approximately 2,500 rediATM branded machines operated by Cuscal and the National Australia Bank.

The UnionPay announcement followed an official visit to China last week by Aussie Prime Minister Tony Abbott, who led the inaugural "Australia Week in China" promoting trade and investment links.

According to Tourism Australia, China is the country's most valuable inbound tourism market. Currently 700,000 Chinese tourists visit Australia per year and spend on average AU$7,000 ($6,556) per visit. By 2020, the agency expects that more than 1 million Chinese visitors will contribute AU$13 billion ($12 billion) a year to the Australian economy.

"With this agreement two-thirds of the rediATM network will be able to service UnionPay cardholders, which could provide convenient withdrawal services for visitors from mainland China, Hong Kong, Singapore, Korea, Japan and rest of the world," said James Yang, UPI chief representative for the South Pacific Region. "UnionPay looks forward to further enhancing its solid collaboration with Cuscal."