China UnionPay and InfinBank ink agreement

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Finance 15/12/2011 China UnionPay and InfinBank ink agreement

China UnionPay and InfinBank ink agreement

Tashkent, Uzbekistan (UzDaily.com) -- Private open joint stock commercial bank InfinBank and largest national payment system of China, China UnionPay, signed a long-term agreement, within which the Uzbek bank become acquiring partner of China UnionPay (CUP) in Uzbekstan.

Currently, InfinBank underwent certification on emission of China Union Pay Classic banking payment cards, which is designed for individuals.

CUP is only card processing company in China as there are some limits of acquiring of payment systems VISA International and MasterCard International in China.

Established in March 2002, 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. The system issued over 1 billion payment cards.

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