By Aimee Chanthadavong
David Jones together with Commonwealth Bank has launched an exclusive partnership with the world’s largest card scheme UnionPay, a national Chinese debit and credit card.
This arrangement will see David Jones accepting UnionPay transactions into its store network.
“David Jones has always aimed to deliver a truly global experience for any customer that visits our store. This new partnership cements David Jones as a retail innovator.” Paul Zahra, David Jones CEO and managing director, said.
“We’re particularly thrilled to further mark this by becoming an omni-channel retailer. Customers have been the key to our business’ success since it was first opened. UnionPay now opens our doors to more than 700,000 Chinese visitors and students to Australia every year.”
The partnership with the world’s largest cardholders group will also be extended to other Commonwealth Bank merchants from July.
“All of David Jones around Australia will be able to accept payments from UnionPay debit and credit cards. This is an exciting opportunity for David Jones as there are more than 3.4 billion UnionPay cards issued around the world and represents up like 75 per cent of all cards in the world,” Ian Saines, Commonwealth Bank’s group executive institutional banking & markets, said.
“With around 700,000 Chinese travelling to Australia every year spending in excess of $10 billion with an average spend double of other international cards this is a fantastic opportunity for merchants and those Chinese visitors to better enjoy their experience in Australia, as well as a great opportunity for David Jones and any other merchants who make themselves available to this opportunity.
“Our partnership with UnionPay enables David Jones to be the first Australian department store to accept UnionPay cards. Commonwealth Bank is committed to supporting Australian businesses with the ability to process a wider range of payment options.”
Deputy Premier and Minister for Trader & Investment Andrew Stoner said the new services mean 130,000 Commonwealth Bank payment terminals across Australia will now be accepting China UnionPay cards.
“This service will significantly increase the payment convenience for inbound Chinese tourists, students, business people and new migrants, which is in turn will encourage these Chinese visitors to contribute more to the NSW and Australian economy,” he said.
“I am confident there will be immediate benefits not only for the Commonwealth Bank’s 130,000 merchants who will now be accepting UnionPay, but also for the many Chinese tourists, students, businesspeople and migrants who visit NSW each year.
“The deal complements the NSW Government’s China Tourism Strategy 2012-2020 which aims to actively build new markets, support new products and services and develop our industry partnerships to ensure that NSW secures substantial market share and harnesses the potential of the China market.”