UnionPay's Quickpass contactless capability will be made available to about 90,000 ANZ EFTPOS terminals across Australia, the bank has announced.
Myer, Harvey Norman and Dreamworld will be among the first organisations to offer the functionality, ANZ said in a statement.
Speaking at a launch ceremony at Myer Melbourne yesterday, ANZ chief executive Mike SMith said UnionPay International is the leading card network in China, with more than 50 per cent of all cards in circulation.
"It is also the only card network that issues, clears and settles in yuan," Mr Smith said.
"Every year, more and more Chinese tourists, students and business people travel to Australia, with around 800,000 visiting in 2014. As a super regional bank operating in 34 markets, we recognised that we needed to expand our card payment options to support customers’ cross-border activities," he said.
UnionPay International chief executive Cai Jianbo said the expansion of the UnionPay card "acceptance footprint" in Australia and New Zealand would bring about "breakthroughs in innovative payments".
"As the next step, we will work closely with Australian institutions in promoting the cross-border application of innovative UnionPay products and services in a bid to expand the acceptance of QuickPass, improve card-using services and provide UnionPay cardholders with payment experiences that are both secure and convenient," Mr Cai said.
ANZ will launch contactless acceptance technology for UnionPay International customers in New Zealand by the end of 2015, and mag-stripe and EMV compliant acceptance will be introduced to ANZ's EFTPOS terminals and ATMs across 11 markets in Asia Pacific from early 2016, according to an ANZ statement.