Public Bank and UnionPay International Launch PB UnionPay Lifestyle Debit Card
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UnionPay International (UPI), a global payment network, has reaffirmed its presence in Malaysia by inking a first-of-its-kind partnership with Public Bank (PB), the third largest bank in Malaysia. The two collaborated to launch the PB UnionPay Lifestyle Debit Card in December 2016, targeted at customers and businessmen who are frequent travelers to Asia.
Poised as the best travel companion, the PB UnionPay Lifestyle Debit Card which is issued upon opening of a PB UnionPay Savings Account, will give Cardholders access to a range of perks and benefits. A PB UnionPay Lifestyle Debit Cardholder can access the Priority Lane at the Chinese Visa Application Service Centre in Kuala Lumpur and Kuching, to expedite the submission and processing of visa applications. Besides, discounts of up to 10 percent are offered to these Cardholders at duty-free shops in 100 participating international airports. PB UnionPay Savings Account offers a flat interest rate of 0.5 percent per annum, and a monthly cash rebate of RM10 (S$3.21) for accounts with a minimum of RM10,000 (S$3,221) month-to-date average balance and no over-the-counter transactions for the month.
In conjunction with the launch, Public Bank is offering complimentary access to Plaza Premium Lounge Malaysia so visitors can partake in a host of facilities that will make traveling more comfortable and satisfying. A panda neck pillow and eye mask resembling the card design will be given to new PB UnionPay Savings Account holders with a minimum deposit amount of RM2,000 (S$643) which is earmarked for three months. Gifts are available while stocks last.
“Headquartered in Kuala Lumpur, Malaysia, the Bank entered its 50th year of operations in 2016 with a total group asset size of RM363.76 billion (S$116 billion) as of end 2015.”
Public Bank is the third largest banking group in Malaysia. Headquartered in Kuala Lumpur, Malaysia, the Bank entered its 50th year of operations in 2016 with a total group asset size of RM363.76 billion (S$116 billion) as of end 2015. With an extensive reach to its customers via a network of 259 well distributed branches and over 2,000 self-service terminals in Malaysia, this partnership between UPI and PB aims to provide PB customers with greater mobility within the region through the use of its high quality and secure cross-border payment services.
ӡWe are excited to have Public Bank on board as our strategic partner for our issuing in Malaysia,ӱ said Mr. Wenhui Yang, General Manager of UPI Southeast Asia. ӡUnionPay International is fully aligned with Public BankӮs focus on providing the most efficient services to its customers through the innovation of new banking services, and we believe that this partnership will put us in a good position to serve the needs of consumers and businesses in Malaysia.ӱ
ӡWe are proud to be the first local bank in Malaysia who had launched UnionPay Card which offers various solutions to fit our customersӮ financial and lifestyle needs. With the expanding business alliances between China and Malaysia, Public Bank continues to progress and expand in order to become the first choice of expatriates and students from China for their banking service needs as this card serves them well whenever they are in China, Malaysia or any other 160 countries and regions that accept UnionPay Cards.ӱ said Y. Bhg. DatoӮ Chang Kat Kiam, Deputy Chief Executive Officer of Public Bank.
Questions & Answers
Q.What is the primary target demographic for the new PB UnionPay Lifestyle Debit Card?
What is the primary target demographic for the new PB UnionPay Lifestyle Debit Card?
The card is aimed at customers and business people who frequently travel to Asia. It is also designed to serve expatriates and students from China for their banking service needs.
Q.What are the specific financial incentives offered with the PB UnionPay Savings Account?
What are the specific financial incentives offered with the PB UnionPay Savings Account?
The account offers a flat interest rate of 0.5 percent per annum. There is also a monthly cash rebate of RM10 for accounts meeting a minimum balance and transaction condition.
Q.What travel benefits are available to PB UnionPay Lifestyle Debit Cardholders?
What travel benefits are available to PB UnionPay Lifestyle Debit Cardholders?
Cardholders can use a Priority Lane at Chinese Visa Application Service Centres in Kuala Lumpur and Kuching. They also receive up to 10 percent discounts at duty-free shops in 100 international airports.
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