UnionPay signs deals with Australian banks

China UnionPay announced Wednesday it had signed deals with two Australian banks to cooperate on UnionPay card business in Australia, New Zealand and some island countries in the south Pacific.

China UnionPay said on its website that it had signed the agreements with Westpac Banking Corporation and Australia & New Zealand Banking Group Limited (ANZ Bank).

Su Ning, chairman of China UnionPay, said the deal would make the UnionPay card more acceptable in Australia and New Zealand. China UnionPay and the two banks will expand the card business together, especially in the field of "innovative payments."

They will also speed up acceptance of UnionPay cards by all ATMs and POS terminals of the two banks in Australia, New Zealand and other countries.