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China Postal Savings Bank signs credit card processing deal with CUP Data

December 1st, 2008
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It has been confirmed that the China Postal Savings Bank has inked a multi-year credit card processing deal with China UnionPay Data Services (CUP Data).

China Postal Savings Bank holds more than US$200 billion in deposits and has more than 36,000 branches throughout the country.

 

David Duncan, group executive, Tsys Asia Pacific, says: “The signing of China Postal Savings Bank demonstrates again that CUP Data is viewed by the Chinese banking community as the most reliable, highest-value processor of credit and debit transactions in China.”

 

CUP Data is a joint venture between China UnionPay and US-based Tsys, which bought a 34% equity stake in the payments processor in 2005. Tsys has since upped its stake and now holds 44.5%.

Sound be a good money maker for all parties involved.

 

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