Australia Post and UnionPay International have joined forces to offer an exclusive and important new financial product for Australians who travel to China every year, which is estimated at 400,000.
Load&Go China, a widely accepted prepaid reloadable travel card, is set to solve travellers’ concerns about easily and securely accessing cash and making payments in China.
Users will find the card is accepted by almost all the ATMs and POS terminals in China. Cardholders can also use it conveniently on the global UnionPay network, with more than 26 million merchants and 1.8 million ATMs accepting the card in the world.
As a dual currency card offering Chinese Yuan (CNY) and Australian Dollars (AUD), currency value can be locked in before travel begins and, for extra security, cards can be registered and set up with a PIN.
Ahmed Fahour, Managing Director and Group CEO Australia Post, said the card will fill a significant gap in the market for travellers to China.
“China is now one of the most popular destinations for Australians travelling overseas and outbound travel to China continues to grow,” Mr Fahour said.
“Regular credit cards are not always widely accepted in China. Load&Go China is issued through UnionPay International and Bank of China and is widely recognised and accepted by vendors across China.
“It provides travellers with peace of mind about financial transactions when in China and is ideal for all travellers. It makes things like paying for a meal at a local restaurant or shopping at markets much easier.”
Other Load&Go China card features include a free back-up card, zero dollar commission on transfers between AUD and CNY, no card cost and no monthly or reload fees. An online portal allows cardholders to manage their card and review transactions.
The card is now available from Australia Post offices or online at auspost.com.au/loadandgochina.