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Thailand licenses China's UnionPay chip card standard

The newly signed agreement signals the first move in China's push to export the UnionPay chip card standard.

August 20, 2015

UnionPay International and Thailand Bankers Association have signed a chip card standard license agreement under which Thailand will adopt the UnionPay chip card standard for banks across the nation.

According to a press release, Thailand is the first nation outside of China to implement the UnionPay standard, which is compatible with the international EMV standard.

The UnionPay chip card standard was recommended for acceptance and card issuance for Thailand's banks in 2014. With the signing of the license agreement, China has achieved a breakthrough in independent financial technology and standard export, the release said.

According to Kobsak Duangdee, Secretary General of Thailand Bankers Association, the chip card standard program in Thailand follows the Thai Central Bank strategy of accelerating the upgrade of bankcard industry.

UnionPay cards are already accepted by nearly all ATMs in Thailand, as well as approximately 70 percent of merchants — including large department stores, airports and downtown duty-free shops, 7-Eleven convenience stores, chain supermarkets, dining hotels and tourist attractions.

Other ASEAN members, including Singapore and Malaysia, also have enabled the acceptance and issuance of UnionPay cards.