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Euronet Pakistan sets up MCB Bank POS network for UnionPay acceptance

June 6, 2013

Euronet Pakistan, a subsidiary of Euronet Worldwide Inc., has enabled UnionPay bankcard acquiring on the nationwide point-of-sale network of a major Pakistani FI, MCB Bank. Establishing acceptance of the Chinese payment card is an important step toward offering multibrand, multinational acquiring services, the company said in a news release.

MCB can now accept UnionPay cards on its 12,000-terminal POS network across Pakistan, and expects a resulting increase in revene. UnionPay cards in circulation worldwide have reached 3.5 billion, and the Chinese government is pushing rapid expansion of the card association.

"In recent years, various UnionPay cards have been issued in Pakistan," said Wang Lixin, chief officer for business development at UPI. "With the acceptance environment improving, UnionPay cards will provide safe, convenient and favorable card service to more visitors and local residents."

"We are extremely pleased to have achieved partnership with a strong association like UPI," said Shahid Latif, managing director of Euronet Pakistan. "Enabling one of the largest banks in Pakistan for UPI card acquiring will open up many new opportunities for all three organizations to work in collaboration to provide value-added services to the end customer."

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