UnionPay International has entered into a cooperation agreement with Halyk Bank, whereby the bank started accepting UnionPay cards at all its ATMs and merchants in Kazakhstan.
The partnership will also cover a wide range of areas including local card issuance, innovative services and foreign student support.
Go deeper with GlobalData
Under the cooperation, local card issuance will include corporate card, diamond card and CNY/Tenge dual-currency card to avoid exchange losses and meet the needs of cardholders, while the innovative services will include online payment and cross-border remittance.
Additionally, both sides will jointly roll out a scholarship program for Kazakhstan students in China as well as carry out cooperation in the Khorgos Trade Zone located at the border of China and Kazakhstan.
At the end of 2014, the bank launched the first UnionPay chip debit card in Kazakhstan.
The UnionPay card acceptance network will not only provide payment convenience for Kazakhstan’s exchanges with Russia, Europe and other regions but also meets the personnel exchange demands between China and Kazakhstan.
