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| CUP and PBS Launch CUP Cards Acceptance in Denmark |
| 2008-10-30 |
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China Unionpay and Payment Business Service (PBS) jointly held CUP Cards Acceptance Launching Ceremony in Copenhagen, Denmark on October 28, 2008. Mr. Cai Jianbo, Executive Vice President of China Unionpay, Mr. Lars Fruergaard, CSO of PBS, Ms. Li Yun, Board Member of China Unionpay and Mr. Gu Hui, Political Counselor of Embassy of China in the Denmark attended the Ceremony.
In the past few years, with the rapid growth of commercial and cultural exchange between China and Denmark, the number of inbound Chinese tourists to Denmark increased swiftly. According to statistics, in the year of 2007 over 100,000 Chinese visited Denmark. This number is expected to be 200,000 in 2010. In order to meet the continuously increasing needs of CUP card usage, China Unionpay, together with PBS, enable CUP cards to be accepted through PBS’s over 20,000 merchants, covering main business districts, tourism attractions, airport and hotels in Denmark. As an important step made by CUP for its internalization strategy, the launching ceremony means the formal emerge of CUP brand in Denmark market. CUP provides cardholders a more convenient payment method.
At the opening ceremony, Mr. Cai Jianbo, Executive Vice President of China Unionpay, said, “The ceremony in Denmark is a good start for both of us to cooperate in a deeper level and a further extent. CUP and PBS will engage to improve the merchant acceptance environment, launch the ATM acceptance in Denmark and speed up the cards acceptance in other countries of North European area. Thus, Chinese tourist will be provided a better card acceptance environment when they travel to North European countries.”
CUP launched card acceptance business successively in Monaco, San Marino and Liechtenstein. After this ceremony in Denmark, CUP cards now can be accepted by merchants in 28 countries and regions and through ATM terminals in almost 50 countries and regions. To use CUP Network when swiping cards abroad can save the currency conversion fees, which account for 1% to 2% of the total card swiping amount. In addition, CUP is also vigorously promoting the issuance of standard CUP cards by overseas financial institutions. So far, over 40 financial institutions in 8 countries and regions have formally issued standard CUP cards outside China.
About PBS
PBS transfers money and information between private individuals, companies and public institutions and, every minute of the day, 24 hours a day, several million DKK pass through our systems. PBS develops and operates solutions within the area of payment and information systems and, today, PBS is one of the leading suppliers of payment solutions. PBS employs 850 staff and has offices in Denmark, Sweden and Norway. PBS is owned by a number of Danish financial institutions and Danmarks Nationalbank (Denmark’s central bank). The Group has turnover of DKK 2.3 billion and delivers processing and services in connection with payment cards in more than 20 countries. |
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