Further partnership expansion of CUP and Global Payments

[img_assist|nid=9157|title=|desc=|link=none|align=left|width=100|height=37]According to the latest reports China’s sole bank card information switch network carrier China UnionPay Co., Ltd. signed the global memorandum of understanding (MOU) with the US electronic transaction processing service supplier Global Payments Inc.

Both parties will partner to make the China UnionPay card acceptable by merchants in Canada and the UK in the near future. Besides, with the help of Global Payments China UnionPay card service will be extended to new markets in the Asia-Pacific region and other geographic points.

Being a pioneer in bank card processing in North America Global Payments enabled the China UnionPay debit cards acceptance by the American merchants within the bank card payment networks of both China UnionPay and the US Discover Financial Services since the end of 2005.

Later in June 2006 Global Payments established a joint venture with Hong Kong and Shanghai Banking Corporation (HSBC) and started all transaction processing services for HSBC's merchants in the Asia-Pacific region, including the UnionPay card processing service in Hong Kong and Macao.