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UnionPay offers more to help quake-hit regions

By Ding Qi (chinadaily.com.cn)
Updated: 2008-05-27 14:30

China UnionPay, a national bank card network operator, pledged to take more measures to support the quake-hit regions and meet local financial needs, the Securities Times reported on Tuesday.

According to the Sichuan subsidiary of China UnionPay, it will equip each temporary store at the resettlement site with POS (point of sale) terminals for convenient payment. Upon consulting with local banks, it will also make all ATMs and POS terminals in the regions eligible for speedy cash withdrawal. Particularly, UnionPay will exempt all charges on relevant financial services.

The financial operator will also work with local rural credit cooperatives and postal savings outlets to provide handy financial services for migrant workers who hurried home for relief efforts.

For those who lost bank cards or passbooks during the devastating quake, UnionPay vowed to coordinate with local banks to help them report loss and renew their saving accounts as soon as possible.

Charity groups and individuals can make use of UnionPay's network and payment means to wire their relief funds to the victims as well, according to the operator.

China UnionPay has so far donated 6.23 million yuan ($890,000) to the quake-hit regions. It has also launched a special education fund to help local students to resume study after the trauma. The fund is expected to disburse two million yuan annually to meet this end over the next three years.