Introducing another pioneering initiative to the Sri Lankan banking industry, HNB announced a new partnership with UnionPay International, to accept card payments from one of the largest payment networks in the world.
Through the new agreement, Sri Lankan merchants who operate HNB Point-of-Sales (POS) devices will now be able to accept UnionPay cards, empowering businesses across the island – particularly with regard to the formal and informal hotel sector, traditional crafts, jewelry and restaurants - to cater to a massive new market of potential customers with ease.
“HNB’s partnership with UnionPay International is without any doubt a historic achievement for the Sri Lankan banking industry. Over the last year alone Sri Lanka recorded tourist arrivals from China well in excess of 270,000 visitors and it is anticipated that these figures will only increase in the coming year.
“By moving proactively to partner with UnionPay International, we believe HNB has taken a vital first step towards further integrating Sri Lanka into the international economic system while at the same time, supporting Sri Lankan businesses to tap into a large and lucrative new customer demographic,” HNB Senior Manager – Card Centre, Roshantha Jayatunge stated.
“We are delighted to be partnering with HNB. Sri Lanka is an important market for UnionPay International in South Asia. We are uniquely positioned and ready to contribute to the growth of the tourism industry in Sri Lanka by providing travellers with the secure and easy payment option.” Senior Head of South Asia of UnionPay International - Derek Chang said.
Now, the UnionPay global acceptance network has expanded to 160 countries and regions, providing safe, convenient and preferential payment services for its global cardholders. With more than 6 billion cards issued accumulatively in 40 countries and regions, UnionPay has not only become the major payment brand of the Chinese outbound tourists, but is also the preferred payment option for an increasing number of customers from markets outside mainland China.
HNB currently stands as the dominant leader in card acceptance in the Sri Lankan market and together with the roll out of UnionPay International in Sri Lanka, the bank also plans a similar expansion into the Maldivian market later this year.