Source: China Unionpay
PBS has signed an agreement with China Unionpay (CUP), China's largest card company.
China Unionpay is the issuer of the CUP card, which is found in the pockets of 1.3 billion Chinese, making it the equivalent of Denmark's Dankort. The agreement means that Danish, Swedish, Norwegian and Icelandic merchants who have entered into an agreement with PBS on the acceptance of international cards will be able to accept the CUP card in future.
China Unionpay is extending its international network of countries and merchants which accept the CUP card, and, in Europe, the card is already gaining ground, being accepted in Germany, The Netherlands, Belgium, Luxembourg, France, Italy and Spain, etc. Soon it will also be accepted in Denmark, Sweden, Norway and Iceland as well.
"We are in the process of strengthening our position as the central acquirer of international cards. Merchants who have entered into an agreement with PBS on the acceptance of international payment cards will in the future be able to offer Chinese tourists this extra payment service. The CUP card will potentially be included in the international acquiring agreements that we have today with international customers in round 20 different countries," says Susanne Brønnum, Vice President of International Sales at PBS.
The number of Chinese tourists is growing rapidly. 31 million Chinese visitors were recorded last year, of which 1.3 million visited Europe, spending DKK 17,200 on average per person. The forecast from "The World Tourism Organization" is that by 2020 the total number of Chinese tourists will have increased to about 100 million.
From the autumn 2007, Chinese cardholders will be able to use their CUP card in over 30,000 shops in Denmark, Sweden, Norway and Iceland that have entered into an agreement with PBS on the acceptance of international cards.