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On June 24, China Unionpay entered into a cooperation framework agreement with the Bank of Communications on serving the World Expo 2010. Mr. Li Jun, President of the Bank of Communications, and Mr. Xu Luode, President of China Unionpay, attended the signing ceremony.
Mr. Qian Wenhui, Vice President of the Bank of Communications, and Mr. Cai Jianbo, Executive Vice President of China Unionpay, signed the agreement on behalf of both parties. Under the agreement, China Unionpay and the Bank of Communications will leverage respective resource advantages to carry out the multi-field and multi-form cooperation in the fields like payment innovation, improvement of bankcard acquiring environment and service and issuance of CUP standard cards during the preparation and operation of the World Expo 2010.
It is understood that, as a global commercial bank cooperative partner of the World Expo 2010, the Bank of Communications has been dedicated to the construction of payment environment for the World Expo 2010, aiming to provide first-class bank cards, other financial products and services for the constructors, participants and visitors of Shanghai World Expo. Since 2008, the Bank of Communications has issued the first “Golden” World Expo debit cards and World Expo credit cards made of eco-friendly materials nationwide. Moreover, it will further develop new lines of bankcard products like IC card. It is believed that the Bank of Communications will be more scientifically advantaged in its Pacific card products and more influential in the international market with CUP’s R&D experience in new bankcard products, wide network and overseas resources.
As the bankcard organization in China, China Unionpay brings its functional role into full play to promote the rapid and healthy development of bankcard industry in China under the guidance and support of the People’s Bank of China and relevant governmental authorities. Since 2008, China Unionpay has been dedicated to create a sound atmosphere for safe payment through collaboration with various industrial parties to improve the bankcard acceptance environment and implement the risk prevention. Furthermore, China Unionpay endeavors to provide high quality bankcard service for domestic and international cardholders through a series activities including merchant cashiers training, payment innovation and joint issuance of CUP standard “Golden” World Expo cards and World Expo credit cards together with the Bank of Communications. This also supports the Bank of Communications in fulfilling the concept of the World Expo 2010 - “Better City, Better Life”.
Both parties expressed that they would take this opportunity to deepen and expand the cooperation and jointly provide high quality and efficient globalized financial services for World Expo 2010, as well as promote healthy and rapid development of the bankcard industry in China.
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