DinaCard to become internationally recognized tender – Cooperation with China UnionPay planned

Serbian DinaCard might soon become internationally recognized tender, accepted at sales outlets and ATMs throughout the world. The exact model of the card will depend on an agreement between China UnionPay, the payment card organization with the biggest number of issues payment cards in the world and representatives of the local DinaCard system. The National Bank of Serbia confirmed for Novosti that the cooperation is certain.

– The governor of the People’s Bank of China, Zhou Xiaochuan, responded affirmatively to the initiative by Governor Jorgovanka Tabakovic to establish business cooperation between the card systems of China UnionPay and the DinaCard system, whose operator is the National Bank of Serbia, and gave full support to the further development of the project – the NBS said for Novosti.

The initiative of Governor Tabakovic, as they say at the central bank, is a natural step towards the further strengthening of the cooperation between China and Serbia, considering the great political relations between the authorities of the two states and the business results, which have been on the upswing for the past several years.

– Serbia has proven to be a reliable partner of PR China, which has resulted in considerable Chinese investments in our country and visits of the highest state representatives to Belgrade and Beijing – the NBS emphasizes.

– It is precisely for that reason that the National Bank of Serbia proposed, after great infrastructural projects and the opening of the first Chinese bank in the Republic of Serbia – Bank of China Serbia, to deepen and intensify the cooperation in the financial sector, more precisely in the field of card payment systems.

According to the NBS, UnionPay boasts the biggest number of payment cards issues and is the card system with the biggest global expansion at the moment, while UnionPay products are equipped with modern technology and measures of protection.

– Furthermore, there’s a global trend of maintaining and strengthening national card systems, and the DinaCard system has more than a 30% share in the local market, with DinaCard products and services being far cheaper and more transparent than the competition. With that in mind, representatives of UnionPay and DinaCard will try to develop a model most satisfactory to both side’s interests in the coming period – the NBS emphasizes.

From Belgrade to the world

The NBS believes that, as the central banks and the operator of the national payment system, it is the most credible and reliable partner to the Chinese side in its further development and expansion in the European market, providing an example for other European states to follow, the bank points out.

– On the other hand, the NBS aims to maintain, develop and strengthen the national Dina payment card, and for this reason we believe that any sort of upgrade thereof, in addition to our consistent policy of low and transparent prices, will act as an incentive to commercial banks and citizens to chose the local products in even greater numbers, as it has all the functions international brands have.

Narodna banka Srbije Beograd

Central Bank of the Republic of China

National Bank of Serbia

NBS

Jorgovanka Tabakovic

Central Bank of China

Zhou Xiaochuan

UnionPay

DinaCard system

DinaCard

payment cards

card payment system

national payment card

Bank of China Serbia