Dual-currency credit cards issued with both Visa and UnionPay logos will have to be replaced by cards carrying just the Chinese clearing company’s logo, under a central bank directive. Photo: Martin Chan
Dual-currency credit cards issued with both Visa and UnionPay logos will have to be replaced by cards carrying just the Chinese clearing company’s logo, under a central bank directive. Photo: Martin Chan
Central banks
Business /  China Business

new | China orders banks to stop issuing dual-currency credit cards to stem capital flight

Alun John
Alun John

Updated: 10:52pm, 25 Nov, 2016

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Dual-currency credit cards issued with both Visa and UnionPay logos will have to be replaced by cards carrying just the Chinese clearing company’s logo, under a central bank directive. Photo: Martin Chan
Dual-currency credit cards issued with both Visa and UnionPay logos will have to be replaced by cards carrying just the Chinese clearing company’s logo, under a central bank directive. Photo: Martin Chan
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