China opens market to foreign banks, ATMs expected to rise

China opens market to foreign banks, ATMs expected to rise
Tags: Asia, Australia & Pacific, Bank / Credit Union, North America, Retail / Off-Premises, Transaction Processing
December 5, 2006

RTTNews: Foreign banks are preparing to establish or expand ATM networks in China as the Dec. 11 date for opening up the country's banking sector approaches. Citibank is epxected to increase its ATM services to 85 outlets by year-end, and HSBC has added 20 ATMs to its China network. Citibank and HSBC have each signed membership agreements with China UnionPay, China's sole bankcard-transactions operator.