Cathay United Becomes First Taiwanese Bank Offering Online Payment Service for UnionPay Cardholders

Taipei, May 29, 2012 (CENS)--Cathay United Bank, a leading private bank in Taiwan, has recently cooperated with China UnionPay, the only domestic bank card organization in China, to offer online payment service for UnionPay cardholders. As a result, Cathay has become the first Taiwanese bank to offer such service.

It is reported that China UnionPay has already cooperated with several Chinese banks to offer online payment service for its cardholders, including China Merchants Bank, Bank of China, China Everbright Bank, Hua Xia Bank, and China Mingsheng Banking Corp., etc.

C. K. Lee, president of Cathay United, indicated that UnionPay cardholders can pay online for shopping, bill payment, hotel reservation, capital transfer, charity donation, etc. via Cathay’s banking system while they are in Taiwan.

Lee foresees a rosy picture for this online payment business as more and more Chinese mainlanders pay visits to Taiwan. He disclosed that Cathay United would not rule out the possibility of cooperating with China UnionPay on IC card service in the near future and would also enhance exchange with it in financial consulting and risk control as well as customer service.

Other Taiwanese banks such as Chinatrust Commercial Bank and Taishin International Bank have recently signed memorandum of understanding (MOU) with China UnionPay, hoping to join the latter’s online payment service.