Portuguese bank Millennium BCP has begun issuing bank cards that let holders avail of the China UnionPay payments system, Xinhua reports. A product launch event was held in Lisbon last week.
The Chinese government-run news agency says Millennium BCP became the first European issuer of UnionPay cards. The report says Millennium BCP intends to issue 200,000 UnionPay cards over the next five years.
It quotes UnionPay International Co. Ltd Chief Executive Cai Jianbo as saying the launch is an important development in Sino-Portuguese cooperation in the interbank payment business, and will better facilitate Sino-Portuguese economic engagement.
The launch gives the Portuguese bank an opportunity to get into a business that is growing rapidly, and to offer its customers more payment options, Xinhua quotes Millennium BCP Chief Executive Miguel Maya as saying.
