BOC HONG KONG(02388): BOC HONG KONG ATM card can now support binding with the UnionPay QuickPass APP from today onwards.

BOC HONG KONG (02388) and UnionPay International announced that BOC HONG KONG ATM cards (BOC cards) can now support binding with the cloud flash pay APP. Customers can use the cloud flash pay QR code to make instant payments at over 190,000 merchants in Hong Kong and Macau, around 30 million merchants in mainland China, and approximately 8 million merchants overseas after binding their BOC cards. This allows customers to enjoy the convenience of mobile payments across regions and also use the QR code to take designated public transportation in mainland China and Hong Kong. If a BOC card bound with the cloud flash pay APP is linked to both Hong Kong dollar and Renminbi accounts, transactions in mainland China will be settled in Renminbi, while transactions in Hong Kong and overseas will be settled in Hong Kong dollars, allowing customers to enjoy the flexibility and convenience of dual-currency settlement and save on exchange rate differences. Zhang Yingsi, Deputy General Manager of Personal Banking Products at BOC HONG KONG, said, "As the first local bank to launch a cross-border payment electronic wallet using QR codes, BOC HONG KONG has been at the forefront of innovative payment services. We are delighted to collaborate with UnionPay International to continuously provide customers with a new and convenient cross-border and global payment and consumption experience. As of September 2024, the number of card transactions made by BOC cardholders through the UnionPay network has increased by 20% annually, reflecting the growing demand of BOC cardholders for payment and consumption services. By supporting the binding of BOC cards with the cloud flash pay APP, we are able to expand the payment scenarios and fields of our ATM card products with the extensive network of UnionPay, meeting the local consumption needs of BOC cardholders and making it easier for them to make electronic payments in mainland China and overseas." Li Penglin, Director of UnionPay International and General Manager of the Hong Kong Branch, said, "The cloud flash pay APP was launched in Hong Kong in September 2018, bringing QR code payment services that comply with international standards to local cardholders. UnionPay is currently the only international card brand in the Hong Kong market to provide QR code payment services for ATM cardholders, with a market share of over 90% in Hong Kong and Macau's ATM card market. We have always been committed to assisting issuing institutions of ATM cards to achieve a sustainable development model. We welcome the binding of BOC cards with the cloud flash pay APP and in the future, UnionPay hopes to fully leverage our technological and network advantages in the payment market and collaborate extensively with industry partners to allow more Hong Kong customers to enjoy innovative payment experiences such as UnionPay QR code payments."