China UnionPay has signed an acceptance agreement with Citigroup Inc. for UnionPay cards to be accepted in seven other Asian nations, a representative for China's bank-card association said.
Under the agreement, Citi will allow UnionPay card acceptance at its merchants in Singapore, Malaysia, Thailand, Indonesia, the Philippines, Myanmar and India, according to a March 11 press release.
In addition, Citi will open its online banking service to UnionPay cardholders.
Both companies first collaborated in 2005 when they agreed for UnionPay cards to be accepted within Citi's automated teller machine network around the world. That agreement also allowed Citi's cardholders from other countries to use their cards at UnionPay ATMs when in China.
Citi currently accepts UnionPay cards at ATMs and a limited number of merchants in 34 countries.
