SHANGHAI, China - China UnionPay and European Savings Banks Financial Services signed a deal to allow China UnionPay cardholders access to participating EUFISERV member ATMs. According to a news release, the deal is expected to go through by the end of the year. This is the first agreement that China UnionPay, the only national bankcard payment network in the country, has signed with a European processing company.
Last year the European Union signed a tourism accord with China that bestows "destination status" upon participating European countries, allowing Chinese tourists to travel to those countries.
"The joint effort devoted by EUFISERV and China UnionPay will enable CUP cardholders to use their CUP branded cards at EUFISERV network ATMs in 12 European countries," said Yongchun Liu, executive vice president of CUP. "We believe the project will lay a solid foundation based on which CUP card can become a global safe and reliable payment instrument gradually."
"With member banks in 12 European countries operating 60,000 plus ATMs, we are well positioned to support China UnionPay in their goals and are honored that they choose us," said Petter N. Johansen, managing director of EUFISERV.
