MEDIA RELEASE PR36879
FNB's Chinese Solution Assists Visitors to South Africa
JOHANNESBURG, Nov. 16/PRNewswire-AsiaNet/ --
First National Bank's (FNB) partnership with China's only bankcard association, China UnionPay (CUP), was
launched in December 2008, a first for the South African banking industry. The partnership enables Chinese
tourists, who are CUP card holders, to make purchases in South Africa at FNB SpeedPoint terminals.
To date the CUP capability has been rolled out to over 50 piloted retail merchants, across the country. George
Lo, Head of East Asia, FNB Commercial, comments, "We chose to pilot the CUP offering with targeted FNB
merchants within the luxury goods sector, which is historically where the majority of Chinese tourist spending takes
place. Based on the results to date we believe the roll-out of the CUP capability to further relevant FNB SpeedPoint
merchants nationwide will provide travellers with a safe and convenient way to transact in South Africa."
International arrivals to South Africa in January 2009 were up 19.9% on last year's figures, with some 4 811
Chinese visitors to the country. In addition, visa restrictions for Chinese travellers were relaxed in June,
giving individuals the opportunity to travel on their own and not only in tour groups, as previously was the case.
Therefore, through enabling access to SpeedPoint merchant terminals for Chinese CUP tourists, visitors will be
able to make the most of their trip to South Africa and enjoy all that the country has to offer.
"China remains a key market for us. The introduction of the CUP facility will improve the appeal of South Africa
as a leisure and business destination, as for the first time Chinese nationals will be able to travel without cash or
travellers cheques," adds Evelyn Mahlaba, Regional Director: Asia and Australiasia, South African Tourism.
With China declaring Africa as its 'Continent of Choice' the timing of the partnership couldn't be more opportune.
It offers both leisure and business travellers a more seamless travel experience. In anticipation of the
2010 World Cup, the ability to transact safely and with ease will provide Chinese tourists with the opportunity to
fully enjoy the international sporting event being hosted on our shores in a few months.
SOURCE: First National Bank (FNB)
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