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BAIDURI BANK LAUNCHES CHINA UNIONPAY CARDS ACCEPTANCE
2nd March 2010
 
Bandar Seri Begawan, 2nd March 2010.  At an event held at The Empire Hotel and Country Club this morning, Baiduri Bank, Brunei’s largest card acquirer announced the launching of China UnionPay card acceptance in Brunei.

This morning’s event saw the official signing of the partnership agreement between the two parties.  Mr Yang Jianmin, Chief Representative, China UnionPay Co Ltd, Singapore Branch signed on behalf of the card company while Mr Pierre Imhof, General Manager of Baiduri Bank, signed on behalf of the bank.  Signing as witnesses were Mr Ti Eng Hui, Deputy General Manager, Retail Banking and Branch Network of Baiduri Bank and Mr Philip Law, Head, Regional Business Development of China UnionPay.
In his welcome speech, Mr Pierre Imhof, General Manager of Baiduri Bank said, "Today, we have reached a new milestone and yet another new “first” – the first bank in Brunei to launch China UnionPay card acceptance services."

"China UnionPay is acknowledged as the fastest growing card brand in the world. The timing of this card acceptance launch is also perfect, coinciding with the resumption of direct flights to Shanghai by RBA later this month. And we believe that with the hard work and tremendous effort put in by both RBA and Brunei Tourism Board, we will see a lot more Chinese tourists visiting Brunei, the Kingdom of Unexpected Treasures", added Mr Imhof.

Mr Cai Jianbo, First Executive Vice President of China UnionPay, in his speech, said, "In recent years, the economic and trade relations between China and Brunei has become increasingly closer. With the acceptance of CUP by Baiduri Bank, besides bringing added convenience to business and leisure travelers to Brunei, it will further increase the demand for economic and trade exchanges in the region, in particular, Mainland China and Hong Kong. Through this payment convenience, both retailers and hoteliers can now tap into a larger CUP cardholder base, many of whom travel to Brunei for business or leisure".

Yang Mulia Dato Paduka Awang Haji Hamdillah bin Haji Abdul Wahab, Deputy Minister at the Ministry of Industry and Primary Resources who is also Chairman of the Brunei Tourism Board was the Guest of Honour.  Also in attendance were Her Excellency, Madam Tong Xiangling, Ambassador of The People’s Republic of China to Brunei, senior government officials, prominent business figures, card merchants and senior executive of Baiduri Bank Group.

China UnionPay is China’s only national payment network with the largest card base in Asia Pacific of more than 2 billion cardholders. China UnionPay Cards are accepted in 83 countries including Hong Kong, Macau, Singapore, Malaysia, Thailand, Japan, Korea, Germany, France, Philippines, Malaysia, Taiwan and Australia.

This Partnership marks a milestone for Baiduri Bank’s payment network. The acceptance of CUP Cards by Baiduri Bank POS terminals shall further strengthen Baiduri Bank’s payment facilities by catering to different needs from existing card brands such as American Express®, MasterCard, and Visa.

With this Partnership, CUP Cards will be accepted by over 200 selected Baiduri merchants comprising high-end retailers, hotels, and restaurants that are frequently visited by Chinese tourists as well as visitors from the region. This new service allows Brunei merchants to capture the fast-growing spending of Chinese tourists.

The CUP card acceptance and processing will undergo the same level of security as other card brands. Electronic payment is therefore secure, safe and convenient. Customers do not have to worry about carrying cash or look for a foreign exchange outlet.
The framework for accepting CUP Cards at Baiduri’s POS terminals will also be extended to Baiduri Bank’s automated teller machine (ATM) network at a later stage. CUP cardholders can look forward to accessing Baiduri’s vast ATM network strategically located throughout Brunei, giving them greater convenience for their cash needs if required.

In the very near future, Bruneians can also expect to enjoy the convenience of CUP’s fast growing international payment network when traveling overseas or locally through the issuance of CUP Card by Baiduri Bank.
 
 
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