PBS has signed an agreement with China Unionpay (CUP),
China’s largest card company. China Unionpay is the issuer of the CUP
card, which is found in the pockets of 1.3 billion Chinese, making it
the equivalent of Denmark’s Dankort. The agreement means that Danish,
Swedish, Norwegian and Icelandic merchants who have entered into an
agreement with PBS on the acceptance of international cards will be able
to accept the CUP card in future.
China Unionpay is extending its international network of countries and
merchants which accept the CUP card, and, in Europe, the card is already
gaining ground, being accepted in Germany, The Netherlands, Belgium,
Luxembourg, France, Italy and Spain, etc. Soon it will also be accepted
in Denmark, Sweden, Norway and Iceland as well.
“We are in the process of strengthening our position as the central
acquirer of international cards. Merchants who have entered into an
agreement with PBS on the acceptance of international payment cards will
in the future be able to offer Chinese tourists this extra payment
service. The CUP card will potentially be included in the international
acquiring agreements that we have today with international customers in
round 20 different countries,” says Susanne BrÃÂønnum, Vice President of
International Sales at PBS.
The number of Chinese tourists is growing rapidly. 31 million Chinese
visitors were recorded last year, of which 1.3 million visited Europe,
spending DKK 17,200 on average per person. The forecast from “The World
Tourism Organization” is that by 2020 the total number of Chinese
tourists will have increased to about 100 million.
From the autumn 2007, Chinese cardholders will be able to use their CUP
card in over 30,000 shops in Denmark, Sweden, Norway and Iceland that
have entered into an agreement with PBS on the acceptance of
international cards.
About China Union Pay
China Unionpay Co., Ltd, approved by the State Council and licensed by
the People’s Bank of China, is a shareholding financial service
institution established through the capital contributions of more than
80 domestic financial institutions. The Shanghai-based China Unionpay
(CUP) was officially incorporated on 26 March 2002. To date, CUP has a
total of 23 branches and 180 members, among which 24 are overseas
financial institutions.
About PBS
PBS (Payment Business Services) has a mission to make payments and the
exchange of information easy and secure. Since 1968, PBS has managed and
developed payment systems and payment cards. PBS has 900 employees and
handles over 1.3 billion card transactions annually. We offer one of the
worlds most advanced and future-proof payment platforms.
