12.03.2007 13:15:00
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First Data and China UnionPay to Promote International Acceptance of CUP Cards
First Data International, a global leader in electronic commerce and
payment services, and China UnionPay (CUP) today announced the
successful launch of a joint service capability that provides Chinese
visitors access to their cash via First Data’s
ATM network, Cashcard, the largest ATM network in Australia.
In addition, the companies have reached an agreement to expand their
relationship to promote the acceptance of CUP cards in other markets
outside China. Together First Data and CUP will promote the acceptance
of CUP cards, in certain global markets, at ATM locations and merchant
point-of-sale locations using First Data systems. First Data will also
provide transaction routing and payment processing services.
"We consider our relationship with CUP a
significant step toward providing access for CUP members’
cardholders to our ATM networks, point-of-sale locations and electronic
payments capabilities worldwide,” said Nigel
Lee, president, First Data International, Asia.
CUP cardholders now have access to more than 5,800 Cashcard ATMs across
Australia. According to Mr. Jeffery Huang, vice president for CUP’s
International Division, this announcement is key in facilitating
convenient access to cash for the exponentially growing number of CUP
members’ cardholders visiting Australia.
"The relationship with First Data will provide
our customers easy access to cash whether they are on business, holiday
or studying,” Mr. Huang added. "We
are pleased to partner with First Data to offer our cardholders greater
convenience, and we look forward to working with them on future
initiatives as we expand our presence globally.”
The increasing expectations from cardholders in China, and around the
world, for access to cash anytime, anywhere, places First Data in the
ideal position to respond to this growth opportunity. As a result of the
relationship with CUP, First Data Cashcard ATM locations now offer
enhanced functionality to its clients and their consumers meeting the
evolving needs of the global payments market.
"The relationship with CUP is a prime example
of how we are supporting the Chinese government’s
aim for Chinese businesses to expand globally and provide stable access
to cash for the increasing number of Chinese citizens traveling overseas,”
said Peter Wright, president, First Data International, Australia and
New Zealand.
About First Data International
First Data International, part of First Data Corp. (NYSE: FDC), is a
leading provider of electronic commerce and payment solutions for
businesses worldwide. First Data International serves a diverse range of
markets, leveraging global scale through a local presence and
maintaining focus on individual client needs. The company has
approximately 7,900 employees and operates across Europe, Middle East
and Africa, Latin America, Canada, Australia and Asia-Pacific.
First Data serves 4.9 million merchant locations, 1,900 card issuers and
their customers. First Data powers the global economy by making it easy,
fast and secure for people and businesses around the world to buy goods
and services using virtually any form of payment. The company's
portfolio of services and solutions includes merchant transaction
processing services; credit, debit, private-label, gift, payroll and
other prepaid card offerings; fraud protection and authentication
solutions; electronic check acceptance services through TeleCheck; as
well as Internet commerce and mobile solutions. The company's STAR
Network offers PIN-secured debit acceptance at 2 million ATM and retail
locations. For more information, visit www.firstdata.com.
China UnionPay Co., Ltd
China UnionPay Co., Ltd. (CUP), approved by the People’s
Bank of China, is a shareholding financial service institution with the
registered capital of RMB 1.65 billion established in Shanghai on March
26, 2002 through capital contributions by more than 80 domestic
financial institutions. As the association for joint development of China’s
bankcard, CUP’s basic responsibility is to
implement the bankcard interoperability in China and countries
frequently visited by Chinese people, to build Chinese national bankcard
brand and to promote the development of Chinese bankcard industry. At
the end of 2006, 1.175 billion Chinese bankcards have been accepted via
CUP network. 189 member institutions have issued CUP cards and 520
thousand merchants can accept CUP cards.
FDC-1
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