DBS and UnionPay launch multi-currency Diamond Debit Card

This card aims to eliminate multi-currency conversion fees, catering to cross-border payment needs. It’s also worth noting that the card was designed with eco-friendly materials, reflecting DBS's sustainability goals. The initiative is part of an ongoing collaboration between DBS and UnionPay to expand financial services in the Greater Bay Area (GBA) and ASEAN regions. Created for residents of Hong Kong and Macau, the card offers exclusive privileges and benefits within the GBA. 

The debit card integrates digital technology to ensure seamless transactions and offers features such as payment notifications, free travel and shopping insurance, and fraud prevention measures. Customers can apply online and begin using the card immediately. 

In the company press release, officials from DBS Bank (Hong Kong) Limited explained that the launch aligns with DBS’s strategy to advance financial integration in the region. They emphasised the card’s role in meeting diverse customer needs while supporting secure and convenient transactions across borders. 

In turn, officials from UnionPay International described the card as part of UnionPay’s efforts to improve localised services and expand global payment capabilities under its ‘Project Excellence 2024’ initiative. They added that UnionPay is looking to to drive innovation and strengthen connectivity in the financial payments sector.

Global collaboration and accessibility

DBS, recognised for its fintech and green finance initiatives, continues to promote regional economic development through partnerships. This collaboration with UnionPay highlights DBS’s commitment to integrating financial services across Asia, including the GBA. 

UnionPay, operating in 183 countries and regions, has built a comprehensive global payment network. The new debit card can be linked to UnionPay’s Hong Kong-Macau mobile payment app and used for transactions at merchants and ATMs worldwide. It also supports QR code payments at more than 8 million merchants across 46 countries and regions.