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UnionPay expands global network tie-up
By Zhang Fengming |
December 26, 2009, Saturday
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Print Edition
Print Edition
CHINA UnionPay Co signed a deal with HSBC yesterday as it continues to expand its reach overseas to tap the increasing number of cardholders going aboard, the company said yesterday.
The agreement with HSBC will allow cardholders of UnionPay, China's sole bank card transaction switcher, to use their cards on the British bank's automatic teller machines in eight countries -- Maldives, Singapore, Thailand, Vietnam, Bangladesh, Mauritius, Sri Lanka and Brunei.
The two firms will also deepen their cooperation in the Asia Pacific region and expand into other countries, including India, South Korea and the Philippines, by the end of January 2010, Shanghai-based UnionPay said.
The tie-up with HSBC is just the latest instance of UnionPay's strategy to expand overseas where it has now entered 73 countries and regions.
On Thursday, UnionPay signed an agreement with Standard Chartered whose global network of ATMs in more than 20 countries and regions now accept UnionPay cards.
In September 2005, UnionPay teamed up with Citibank to tap the American bank's ATMs in 36 countries and regions.
The agreement with HSBC will allow cardholders of UnionPay, China's sole bank card transaction switcher, to use their cards on the British bank's automatic teller machines in eight countries -- Maldives, Singapore, Thailand, Vietnam, Bangladesh, Mauritius, Sri Lanka and Brunei.
The two firms will also deepen their cooperation in the Asia Pacific region and expand into other countries, including India, South Korea and the Philippines, by the end of January 2010, Shanghai-based UnionPay said.
The tie-up with HSBC is just the latest instance of UnionPay's strategy to expand overseas where it has now entered 73 countries and regions.
On Thursday, UnionPay signed an agreement with Standard Chartered whose global network of ATMs in more than 20 countries and regions now accept UnionPay cards.
In September 2005, UnionPay teamed up with Citibank to tap the American bank's ATMs in 36 countries and regions.
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