Money

Mainlanders can access UnionPay in HK, Macao

(crienglish.com)
Updated: 2010-06-11 11:35

Visa Inc will allow Chinese holders of dual-currency credit cards that include both of its own and China UnionPay Data Co's pay services to use either service in Hong Kong and Macao, the Southern Metropolis Daily reports.

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Liu Jie, a Visa spokesperson based in China, said since Hong Kong and Macao make up a part of the country, purchasing items there with a credit card does not constitute an overseas transaction. Consequently, cardholders can still access the UnionPay service and are spared currency conversion fees.

Previously, Visa signaled to its member banks that starting from August 1 Chinese holders of dual-currency credit cards who made purchases with them outside the mainland's borders would no longer be able to access the UnionPay service. The company said that instead cardholders would have to use Visa's service and pay an extra 1 to 2 percent currency conversion fee.