Department store chain David Jones and Commonwealth Bank joined forces today to launch the banking institution’s Australian partnership with China’s biggest card scheme.

UnionPay, the primary card scheme in mainland China with over 3.5 billion debit and credit cards in use, will now be accepted at all Commonwealth Bank of Australia (CBA) point of sale terminals from July.

UnionPay cards are already accepted by terminals affiliated with the National Australia Bank (NAB), however, CBA says its partnership ups this because it will accept contactless payment and EMV (chip) cards.

“No other bank in Australia is doing this,” said Kelly Bayer Rosmarin, executive GM of business products & developments at CBA, to Inside Retail this morning.

More than 700,000 Chinese businesspeople, tourists, and migrants come to Australia every year, according to Tourism Australia.

It is hoped the UnionPay partnership will encourage more of this booming tourist market to inject their cash into the country’s retailers.

There are more than 170,000 CBA terminals across Australia, with the bank holding 30 per cent of the retail payment market.

Paul Zahra, CEO and MD of David Jones, says its partnership with CBA reaffirms the department store chain’s “ongoing goal to advance [its] technology offering”.

UnionPay acceptance will be rolled out with all of CBA’s retail customers by July, with David Jones beating rival Myer to the punch to accept the cards.

“As retailers we are competing internationally and the abilty to tap into the lucrative Chinese market…is a great strategic advantage for us,” says Zahra.

David Jones was in the media earlier this week following its 2.2 per cent fall in sales for the third quarter.