Printer Friendly
The Free Library
5,673,640 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

CUP Data to Provide Credit Card Processing Services for Huaxia Bank.


Huaxia is One of the Top 10 Publicly Listed Nationwide Banks in China

COLUMBUS, Ga. -- TSYS TSYS Total System Services, Inc.  announced that China UnionPay Data Services Co., Ltd. ("CUP Data"), TSYS' joint venture with China UnionPay ("CUP"), has recently begun providing processing services for Huaxia Bank Co., Ltd, one of China's largest nationwide banks. Huaxia Bank has a strategic partnership with Deutsche Bank, one of the world's largest financial institutions. CUP Data now provides processing services for three of the four largest issuing banks in China that use outsourced services to support their payment programs.

"My colleagues and I feel greatly honored in establishing a long-term relationship for outsourced payment services with Huaxia Bank. It fully demonstrates CUP Data's growing excellence and sophistication so·phis·ti·cate  
v. so·phis·ti·cat·ed, so·phis·ti·cat·ing, so·phis·ti·cates

v.tr.
1. To cause to become less natural, especially to make less naive and more worldly.

2.
 in technology and quality in bankcard processing," says Mr. Huaiguang Shan, president of CUP Data. "This also shows that CUP Data can compete to provide services for largest banks in China while meeting the demands of their experienced foreign partners."

"CUP Data has achieved considerable momentum in the People's Republic of China in a relatively short period of time," says Mr. M. Troy Woods, president and chief operating officer Chief Operating Officer (COO)

The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president.
 of TSYS. "Through our relationship with CUP Data, we believe that TSYS is uniquely positioned to meet the rapidly evolving competitive needs of Chinese financial institutions."

"All of us in the TSYS family are very enthusiastic about the opportunity to work closely with CUP Data during this exciting period of time," says Mr. David E. Duncan, managing director of TSYS Asia-Pacific, based in Shanghai. "We believe that continued close cooperation between TSYS and CUP Data will help to position CUP Data as the leading processor in China and we look forward to working cooperatively to provide world-class products and services to Chinese financial institutions."

CUP Data is China's largest third-party processor of bankcard accounts, providing transaction processing, disaster recovery and other services for issuing banks in China. CUP Data was established in 2003, and has more than 30 signed credit- and debit-processing client banks at year-end 2006.

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 The People's Bank of China (PBC or PBOC) (Simplified Chinese: 中国人民银行; Traditional Chinese: , China's central bank, and has become one of the world's largest and fastest-growing payments networks.

About TSYS

TSYS (www.tsys.com) 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 and prepaid services for financial institutions and retail companies in the Americas, EMEA (Europe, Middle East, Africa) Refers to that region of the world. For example, one might see products packaged differently for the UK, EMEA and Asia Pacific markets.  and Asia-Pacific regions. Based in Columbus, Ga., TSYS (NYSE NYSE

See: New York Stock Exchange
: TSS See ITU. ) is closely held A phrase used to describe the ownership, management, and operation of a corporation by a small group of people.

In a closely held corporation, the same people often act as shareholders, directors, and officers, and no outside investors exist.
 by Synovus Financial Corp. (NYSE: SNV SNV Synovus Financial Corp. (stock symbol)
SNV Schweizerische Normenvereinigung (Swiss standards body)
SNV Stichting Nederlandse Vrijwilligers (Netherlands Development Organization) 
), one of FORTUNE magazine's "Most Admired Companies" and a member of its "100 Best Companies to Work For" for 10 straight years. For more information, contact news@tsys.com.
COPYRIGHT 2007 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Jun 21, 2007
Words:471
Previous Article:StockTrans Hires New Director.
Next Article:Opexa Therapeutics Reports Positive Top-line Data in Phase I/II Extension Trial with Tovaxin(TM) for Multiple Sclerosis.
Topics:



Related Articles
FOR THE RECORD.(Vitals)
Rising home values offset by high-interest loans.(SPINOFFS: Keeping Current)
Uncounted and unseen: tens of thousands of children have parents in prison. Many people call these children 'crime's invisible victims.' Institutions...
Shifting gears: frustration over not finding jobs has caused workers from different groups to blame each other. Some say the global economy and...
Expanded hose line for mold services.(KEEPING UP WITH: Tooling)
FOR THE RECORD.(Vitals)
Bill would allow unions to form without a secret ballot.(Commentary)(Pro: Act would be a boost to Oregon workers)
Bill would allow unions to form without a secret ballot.(Commentary)(Con: Elections key to fairness in forming unions)
Mortgage insurance can open doors for private lenders.(INSIDERS OUTLOOK)
Australian Businesses Raise The Bar On World Stage; 2007 Australian Business Excellence Awards Announced.

Terms of use | Copyright © 2009 Farlex, Inc. | Feedback | For webmasters | Submit articles