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Deal reached allowing UnionPay cards used in Portugal

Xinhua, May 16, 2015 Adjust font size:

China's UnionPay International signed here on Friday a cooperation agreement with Portuguese Unicre and ISBS which will enable visiting Chinese tourists to use UnionPay cards when they consume in Portugal.

At the signing ceremony at the Museu of Oriente (Orient Museum) in Lisbon, UnionPay International President Shi Wenchao said that the massive use of UnionPay cards by Chinese tourists in Portugal will greatly promote the economic development in the debt-laden country and contribute to the trade and personnel exchange between the two countries.

He said that by the end of this year 80 percent of Portuguese businesses will accept UnionPay cards for payment by Chinese tourists.

Unicre CEO Luis Flores said that it is an important moment for his company to establish connection with China's largest bank card payment processor UnionPay. With the more convenient and secure means of payment for Chinese tourists it will increase business volume for Portuguese merchants and promote Portuguese economic development.

Huang Songfu, Chinese Ambassador to Portugal said that in recent years Portugal and China enjoy high-level political trust and bilateral trade is on rapid increase. The cooperation in finance sector has become more important for an overall cooperation between the two countries.

He said that last year saw some 100,000 Chinese tourists visiting Portugal, though the number is not big, more and more Chinese tourists will visit Portugal in the future and the UnionPay cards will make them more convenient while they stay in Portugal.

According to UnionPay International, over 14 million businesses in 150 countries accept UnionPay cards for payment through some 1.2 million automatic terminals.

Around 113,200 Chinese tourists visited Portugal last year and spent around 54 million euros ((61.5 million U.S. dollars), 20 million more euros than in 2013, according to figures released by the Portuguese National Institute of Statistics and the Bank of Portugal. Endit