CUP Data Signs Processing Agreement with Citibank

COLUMBUS, Ga.--(AllPayNews)--TSYS today announced that China UnionPay Data Services Co., Ltd. (“CUP Data”), TSYS’ joint venture with China UnionPay (“CUP”), has signed a debit card processing agreement with Citibank (China) Co., Ltd. (“Citi China”).

“Signing this agreement with Citi China is another example of how we continue to develop and strengthen our payment processing expertise,” said Mr. Chai Hong Feng, chief executive officer of CUP Data. “We are excited to support Citi China in offering its customers a convenient and reliable debit card product.”

“CUP Data continues to prove itself as the preferred payment solutions provider not only for domestic banks, but also for prominent global players like Citibank,” said David Duncan, Group Executive of TSYS Asia Pacific. “By gaining the business of one of the first foreign banks approved to issue RMB bankcards to Chinese consumers, CUP Data reaffirms its status as the premier choice for outsourced processing.”

Citi China launched its first CUP-standard debit card on July 30, 2008. The card can be not only used at all China UnionPay terminals, but also on Citibank ATMs in more than 30 countries. Furthermore, Citi will be the first foreign bank in China to offer mobile phone-based services to debit cardholders. With a presence in China since the early 1990s, Citi’s bankcard is seen as a status symbol by Chinese consumers.

Terms of the multi-year agreement were not released.

About Citi China

Citi first established an office in China on May 15, 1902 in Shanghai. Today Citi is the premier foreign bank operating in China, offering the broadest product range of any international bank in China. Citi currently operates eight corporate & investment bank branches — Beijing, Shanghai, Guangzhou, Shenzhen, Tianjin, Chengdu, Hangzhou and Dalian, 25 consumer bank outlets in Shanghai, Beijing, Tianjin, Guangzhou, Shenzhen, Chengdu, Hangzhou and Dalian. With operations in more than 100 countries around the world, Citi is the most global of all international banks in China.

About CUP Data

CUP Data is China’s largest third-party processor of bankcard accounts, providing transaction processing, disaster recovery, data migration, system integration and other value-added services for issuing banks in China. CUP Data was established in 2003, and now has more than 50 signed credit- and debit-processing client banks.

TSYS owns a 44.5-percent equity stake in CUP Data, a subsidiary of China UnionPay (CUP). CUP is the only payments network sanctioned by the People’s Bank of China, China’s central bank, and has become one of the world’s largest and fastest-growing payments networks.

About TSYS

TSYS (NYSE: TSS) is one of the world’s largest companies for outsourced payment services, offering a broad range of issuer- and acquirer-processing technologies that support consumer-finance, credit, debit, debt management, healthcare, loyalty and prepaid services for financial institutions and retail companies in the Americas, EMEA and Asia-Pacific regions. For more information contact news@tsys.com or log on to www.tsys.com.

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