A major Thai commercial bank, in collaboration with China UnionPay(CUP), on Tuesday introduced a credit card as Thailand's first platinum credit card that adopts the CUP standard, which is most widely accepted in China.

"The cooperation between Bangkok Bank, the biggest commercial bank in Thailand, and China UnionPay, the leader of the credit card provider in China, opened a new chapter in the Sino-Thai collaboration in financial industry," said Chartsiri Sophonpanich, president of Bangkok Bank in the launching ceremony here.

According to Wichai Kiatrengsuk, vice president and manager of the bank's Chinese Relations Department, this card, "Bangkok Bank China UnionPay", will be widely accepted by 1,350,000 merchants in China and 31 other countries or areas worldwide after its scheduled launch in February 2010.

Also in a development that coincides with the credit card's launch, Bangkok Bank recently has received a license from Chinese government to operate Bangkok Bank (China), a locally incorporated bank in China.

To open on December 28 in Shanghai, this will be one of the about 30 fully-foreign-owned banks, and the only Thai bank, that operate in mainland China, said Wichai.

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