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Standard Chartered Bank and China Unionpay (CUP) have announced an ATM alliance through which Standard Chartered’s global ATM network will provide ATM services to CUP cardholders in 20 countries and territories.
It is also a remarkable achievement for CUP’s internationalisation. The cooperation will provide payment convenience to CUP cardholders for their travel, business and study in Africa, Middle East and Asia.
Before 2009 CUP cardholders could withdraw cash and check account balance at SCB ATMs only in China and Hong Kong. Now these services have been extended to SCB ATMs in Kenya, Zambia, Gambia, Uganda, Botswana, Bahrain, Korea, Singapore, Malaysia and UAE; and these services will also be offered in 2010 in Nigeria, Ghana, Tanzania, Nepal, Sri Lanka, Bangladesh, Pakistan, Zimbabwe, Jordan and Cote’ D'Ivoire.
Cardholders will be able to withdraw cash in the local currency of the country they are in - the withdrawal amount will be debited to a customer’s RMB account of the card issuing bank using a competitive exchange rate.
In recent years, the number of Chinese outbound tourists has been increasing along with the growth of China’s international economic and trading relations with the world. In 2008, outbound tourist numbers reached 45.84 million, up 11.9% compared to 2007. It has been a continuous social responsibility for CUP to satisfy the payment demands of these outbound tourists.
Simon McNamara, Chief Information Officer, Global Consumer Banking, Standard Chartered Bank, said: “We are very excited about our growing partnership with China Union Pay and the greater service and convenience it offers to Standard Chartered Bank’s customers and CUP cardholders worldwide.
CUP cardholders will be able to get cash and perform account inquiries at over 2,000 Standard Chartered Bank ATMs across Asia, Middle East, and Africa. We look forward to expanding our work with China Union Pay to continue to deliver great service to our customers.
“The cooperation brings 10 new countries to the CUP network”, Mr. Cai Jianbo, the First Executive President of CUP said. “CUP will work closely with Standard Chartered to provide premium, secured and efficient payment service to the cardholders.”
Mr. Cai also points out that, “CUP has accelerated the construction of its overseas acceptance network. This makes the CUP network one of the largest in the world. CUP is also dedicated to forging further alliances with overseas partners to provide premium services to its growing clientele. Now the CUP card can be used in more than 80 overseas countries and territories.
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| Source: B&FT |
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