UnionPay in Australia, China and Beyond
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Australian Business Forum helps Australian SMEs and businesses to understand the Chinese market and refine their China strategy. http://abf.events/ ABOUT THE PRESENTATION BELOW UnionPay is the first payment choice for millions of Chinese customers both at home and abroad. Understanding how to use UnionPay services in Australia will help your business meet Chinese customers where they are most comfortable, and grow your business into Asia. Originally created for Australia-China BusinessWeek 2015 Brisbane.
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UnionPay in Australia, China and Beyond
- 1. UnionPay, Your access to China & Asia OCT 2015
- 2. • 1st card network by cards in circulation worldwide • 1st debit card brand by spend • 1st largest card network by transaction volume worldwide • US$1.9 trillion (Visa US$1.75) transaction volume in Q1 2015 • Only card network issues, clears, settles CNY cards • Chinese equivalent of VISA/Master/AMEX + EFTPOS • Funded in 2002 in Shanghai , China • Card usage on purchase from 4% to 47% • Card issued from 600 million to 4.8 billion UnionPay Updates
- 3. Why UnionPay • Strict currency control for Chinese citizen • Cap 50K USD equivalent per year for FX • Cap 5K USD equivalent FX cash per trip First payment choice for Chinese Benefit for Use UnionPay • Direct currency conversion, no conversion fee • Majority debit cards, no limits for transactions • Prefer to shop where UnionPay is accepted due to trust • Diversify payment demands, travel, study, property, daily spending Average transaction size AUD 800 (2014)
- 4. 150 COUNTRIES 4.5 Billion CARDS globally, with 37 Million cards issued outside China 400 ISSUERS, with 125 issuers outside China 1.8 Million ATMs, with 1.2 Million outside China 26 Million MERCHANT OUTLETS, with 18 Million outside China ¥41.1 Trillion PROCESSED SPEND for FY 2014, or $6.6 Trillion USD Numbers as at December 2014 UnionPay Snapshots
- 5. UnionPay services in Australia 80% ATM 50% Merchants UnionPay Issuing in Australia • Australia Post Load & Go China UnionPay Dual Currency Prepaid Card • Bank of China Australia UnionPay Dual Currency Credit Card
- 6. UnionPay partners in Australia
- 7. Benefits from UPI -China Tourists • China Outbound numbers increased dramatically in last decade • There are nearly 800,000 Chinese visit Australia in 2014 • The economic contribution from Chinese is A$5.4 billion in 2014 0.00 20.00 40.00 60.00 80.00 100.00 120.00 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Chinese Outbound Tourist Statistics 2000-2013（Million）
- 8. Benefits from UnionPay-China Students • There are near 150,000 China Students live and study in Australia • Chinese students not only contribute to the education industry; but are also big shoppers and potential banking customers Nationality International student enrolments 2012 China 149,758 India 54,396 Republic of Korea 27,719 Vietnam 22,551 Malaysia 21,587 Thailand 20,240 Indonesia 17,514 Brazil 15,092 Nepal 14,074 Pakistan 11,298 All nationalities 515,853
- 9. Benefits from UnionPay-China Migrant & Pros In 2012–13 there were 27334 permanent Chinese migrants to Australia compared with only 8473 migrants in 2000–01. This made China the second largest provider of permanent migrants to Australia in 2012–13. • At August 2013, 190 000 China-born people were working in Australia. Their main occupations included professionals (24 %), technicians and trades workers (14%) and clerical and administrative workers (13%) and managers (13%). (Source from Australia Government Department of Immigration and Board Protection website, Country Profile –People’s Republic of China)
- 10. 320 million 27 million 20% 80%244 million Number of Online Consumer in China by the end of 06/2013 No shopping internet users Online shopping without Online payment Online shopping and payment Cross border -- Online shopping and payment Domestic -- Online shopping and payment 591 million - internet users in China 244 million - shop online, with an high annual growth of 41.4%. 90 million online merchants support UnionPay Online Payment New Opportunities -UnionPay Online Payment
- 11. How to be REAL China Ready? Cashier Training UnionPay Logo Display China Payment Ready Terminal Ready China Ready Terminal Ready
- 13. Summary • UnionPay is the most fast growing payment network in the world, • Open a door to accept 1.3 billion Chinese, as well as 37 million non-Chinese (Merchants) • Build a bridge to share the ever growth of China economic (Business) • Iron out all payment difficulties on the road in China (Individual and company) • Access to more than 500million online shopper offshore (Ecommerce)