The Australian Tourism Export Council (ATEC) has unveiled a new partnership with the National Australia Bank (NAB) that will make its members ‘payment ready’ for Chinese travellers.
Speaking at the council’s annual conference in Sydney, NAB global business development manager David Simms said although Australia’s tourism industry was focused on building products and services to match the Chinese travellers, it had failing to meet a main requirement, the market’s banking and spending needs.
According to the money expert, Australian businesses and the economy are losing out by not using merchant facilities equipped to accept China’s UnionPay, because it restricts the amount Chinese spending to the $5,000 cash they take-out prior to their arrival.
The agreement between ATEC and NAB will provide the council’s members with products and services tailored for ATEC, as well as discount merchant facilities, which are equipped with China UnionPay functionality.
NAB is currently the only Australia bank accepting UnionPay cards on its EFTPOS and ATM systems
Source = e-Travel Blackboard: N.J