UnionPay International has joined forces with Kazakhstan-based Halyk Bank to offer payments services to overseas students.
The partnership will help provide scholarship equal to $5,000 for the academic year from September 2015 to July 2016 to each student from Kazakhstan planning to study or already studying in China.
The scholarship for students will be offered through UnionPay cards issued by Halyk Bank.
The Kazakh lender, which is the first organisation to carry out UnionPay card business in Kazakhstan, has enabled all ATMs and merchants to accept UnionPay cards and issued 200,000 UnionPay cards.
In May 2015, the two entities have agreed on comprehensive business cooperation, as well as agreed on deepening cooperation in local card issuance, innovative businesses and support to overseas students.
The bank is expected to issue more than 1.1 million UnionPay cards by the end of 2016.
