UnionPay Prepaid Cards Now Available in the United States through ECARD

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Jul 09, 2018, 09:00 ET

Ideal for Travel to Asia

NEW YORK, July 9, 2018 /PRNewswire/ -- U.S. travelers bound for Asia will soon be able to purchase UnionPay prepaid cards issued by Global Bank and marketed by ECARD, a financial services technology company based in New York.

UnionPay cards can be used at over 51 million merchants worldwide - including 100% of merchants that accept payment cards in China. The reloadable general purpose cards provide U.S. citizens an ideal way to conveniently pay for things in Asia and track spending in U.S. dollars.

Some 5.7 million people visited Asia from the U.S. in 2017 - a 7.2 percent increase from the previous year - according to U.S. Department of Commerce, International Trade Administration and National Travel and Tourism Office (NTTO).

UnionPay cards are now accepted in 169 countries and regions. Upon return to the U.S., the cardholder can use any remaining funds on the card at millions of U.S. merchants.

"ECARD allows one-time or regular travelers to Asia to enjoy the convenience of card payments in restaurants, hotels, ATMs, gift shops at cultural attractions and just about anywhere payment is accepted," said Wayne Tsao, Chief Executive Officer of ECARD. "Asian-Americans who visit the Pacific countries regularly for business or personal travel can return time and again with their card and not worry about making special arrangements. There is no need to transfer funds out of the account as UnionPay is widely accepted at U.S. merchants and ATMs."

ECARD will be available starting in the third quarter of 2018. At that time, U.S. consumers can open an account online and service the account via an application downloaded onto a mobile device. Funds can be added to general purpose reloadable cards online or at retail locations.

"With its broad utility in Asia, smart travelers will get and load a UnionPay card before visiting the region," said June Chen, General Manager-Americas, UnionPay International. "That way, the traveler doesn't need to worry about having cash available."

The UnionPay ECARD is issued by Global Bank of New York pursuant to a license from UnionPay International Co., Ltd.

About Global Bank

Global Bank is a New York State chartered, FDIC insured commercial bank. The Bank was formed by a group of civic-minded local Chinese-American business people, is locally owned and commenced operations in 2007. Global Bank offers a full range of banking products and services to individuals, professionals and businesses. Its headquarters is located at 8 Catherine Street, New York, NY 10038 in the heart of Manhattan's Chinatown District with a newly opened Loan and Mortgage Center located at 37-20 Prince Street, Suite 3D Flushing, NY 11354. The Bank has assembled a group of highly seasoned, relationship oriented bankers committed to providing the personal attention and the financial dedication that our customers deserve.

About ECARD

ECARD Inc. is a FinTech company based in New York. With a vision to improve the ever-changing financial ecosystem, the company delivers a better, faster, and simpler payment solution for customers who travel internationally or make day-to-day purchase at home. To break the barrier of global payment system and redefine the way people bank in the world, ECARD Inc. utilizes advanced technologies to provide an innovative financial service that enables frictionless transactions among individuals and organizations beyond countries and regions.

About UnionPay International

UnionPay International (UPI) is a subsidiary of China UnionPay focused on the growth and support of UnionPay's global business. In partnership with more than 1,800 institutions worldwide, UnionPay International has enabled card acceptance in 169 countries and regions with issuance in 48 countries and regions. UnionPay International provides high quality, cost effective and secure cross-border payment services to the world's largest cardholder base and ensures convenient local services to a growing number of global UnionPay cardholders and merchants.

SOURCE UnionPay International