UnionPay enters Australia's largest banking network

"It's going to help visitors that come from China to Australia, we have nearly 1 million visitors to Australia and if they have a UnionPay card they can come to 3,300 Australian Post Shops to do whatever they need,"he added.

According to a media release by the Auspost, the two companies agreed to issue Australia's first UnionPay multi-currency travel card by the end of the year.

UnionPay 2013 transactions hit 32.3t yuan

China's bank card issuance at 4.39b

The new UnionPay Load&Go travel card is based on Auspost's highly recognizable and trusted range of Load&Go reloadable cards and is designed to support the significant number of Australians travelling to China for business and leisure.

Australian travellers will be able to load Australian dollars and Chinese yuan currency to ensure exchange rates are locked in prior to departing Australia and keep track of what they' re spending online.

With the ability to reload and top up funds while away, it provides a simple way for Australians to securely and conveniently access their funds overseas via China's most widely accepted card programe.

After years of fast expansion, UnionPay has established comprehensive cooperation with all major banks in Australia and the cards can now be used to withdraw cash at almost 60 percent of ATMs and are accepted by 90 percent of the taxis.

The average transaction size processed on UnionPay cards is reported to be greater than any other international card, making it an attractive sales opportunity.

Card holders are also abundant around the globe -- every second new card issued around the world is reported to be a UnionPay card, and in the Asia Pacific the network provides 73 percent of all cards issued.