CARDS & PAYMENTS | Tony Chua, Philippines

Banco de Oro starts offering China UnionPay services

GFG Group enables the lender to harness China UnionPay transactions using its Cadencie platform.

Payment software and services company GFG Group announced on Tuesday the recent successful implementation of China UnionPay (CUP) issuing and acquiring by Banco de Oro Unibank Inc. (BDO) in the Philippines, utilising GFG’s Cadencie card management solution.

Miguel Warren, GFG Group Vice President for South East Asia Sales, says BDO, the largest bank in the Philippines, has been a long time user of the Cadencie solution, which drives the Bank’s issuing and acquiring business for MasterCard, Visa, JCB and American Express cards.

“The addition of CUP to BDO’s Cadencie platform will ensure that China UnionPay customers can pay for goods and services, receive information about their card account balance, and withdraw cash in ATMs through BDO’s payment network in the Philippines,” Warren says.

BDO formally announced its cooperation with CUP in a recent ceremony held in Manila. The Bank agreed to open 10,000 POS terminals for CUP within one year. 

“This cooperation between BDO and China UnionPay will provide more convenience to businessmen and tourists travelling between the Philippines and China,” says Rolando Tanchanco, Executive Vice President of BDO Consumer Banking Group, as stated in a GFG Group report.

“Furthermore, the addition of CUP to the Bank’s installation of Cadencie will create new business growth areas for BDO and provide new payment options to our Philippine cardholders.”

Miguel Warren says the BDO/CUP project has enhanced the partnership between GFG and BDO: “We are delighted to further deepen our relationship with BDO, a partnership established in 2002,” he says.

“The smooth implementation of CUP issuing and acquiring at BDO is a clear indication that GFG have a thorough understanding of the payments business in Asia. Our Cadencie card management system continues to provide our clients with opportunities to innovate in payments whilst maintaining a competitive advantage today and into the future.” 

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