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China, Nepal jointly launch international pre-paid card

Himalayan Bank in partnership with UnionPay International (UPI) – a subsidiary of China’s national bankcard association UnionPay – has today launched US dollar-denominated International UnionPay pre-paid card, which can be accepted in over 140 countries.

Himalayan Bank chief executive officer Ashoke JB Rana and chief cooperation officer of UnionPay International David Lee jointly launched the product in the presence of Chinese ambassador to Nepal Wu Chuntai, here in the capital today.

The HBL-UnionPay International pre-paid card is most useful for Nepalis, who travel to China for business, education, sight-seeing and medical, Rana said, adding that any merchant in China, who is equipped with a point-of-sale terminal, will accept UnionPay.

The launch of UnionPay’s pre-paid card is a very important milestone in establishing more effective and secure cross boarder payment services with China and other countries, he added. “With the new pre-paid cards, Nepali traders, students or tourists will also find it easy to make payment due to the wide acceptability of the cards.”

He also said the partnership between the two financical services providers will bring the financial comfort to a large number of Chinese tourists visiting to Nepal through 80 branches, 1,300 PoS machines and 1400 SCT machines.

Moreover, HBL-UnionPay pre-paid card holders will get over 1,000 offers and specially curated experience in more than 18 countries covering shopping, dining and entertainment among others, according to the Himalayan Bank.

“UnionPay is committed to bring secure, convenient and innovative solutions to partners, merchants and cardholders,” said Lee addressing the launching programme. “The collaboration between UnionPay and Himalayan Bank is a testament to the collaborative approach adopted by the UnionPay to bring innovative products to meet market needs,” he added.

Himalayan Bank – a leading private commercial bank established in 1993 – ,

said it is the first time that Nepal introduced such a pre-paid card for Nepalis for international payments.

UnionPay International (UPI) – a  subsidiary of China’s national bankcard association UnionPay – that enjoys partnerships with over 300 organisations globally has enabled card acceptance in over 140 countries with its card issued in more than 30 countries.

Chinese ambassador to Nepal Wu Chuntai, on the occasion, lauded the partnership between the companies of two neighbouring countries.