Next step of partnership with China UnionPay
ABA Bank moved to the next step of partnership with China UnionPay system (CUP), having started to accept and process CUP cards in its POS-terminals network. In March of this year ABA Bank officially started (add link to the article) to accept CUP cards in its ATMs. Now, after all the necessary development works are complete, ABA is ready to serve CUP cards in the outlets equipped with the terminals from the Bank.
As commented by Mr. Sanzhar Abdullayev, Head of Card Services Department, "We are moving steadily to further level of integration with China UnionPay. Earlier this year we started to accept CUP cards in our ATMs and now we accept these cards in our POS-terminals. The next level of our cooperation with CUP will be the emission of cards by our bank. This will be a great support for people who have active business or tourism ties with China, and I am sure it will strengthen our position in the Cambodian banking sector." Start of emission of CUP cards under ABA Bank is planned for the third quarter 2014.
About China Union Pay
China UnionPay is a bankcard association established under the approval of the State Council and the People’s Bank of China. At present, the Shanghai-headquartered UnionPay has about 400 domestic and overseas associate members. As of today, UnionPay is the largest payment system in the world in terms of amount of circulating cards. The cards from China UnionPay are accepted in 141 countries and regions outside China. Meanwhile, UnionPay also actively promotes issuance of UnionPay standard cards overseas, with a goal of providing payment convenience for foreigners in their work, travel and study in China. At present, 65 institutions in 17 overseas countries and regions have issued UnionPay card locally.