Citi and CUP Data in a conjoint project

A debit card processing agreement under undisclosed terms was signed by China UnionPay Data Services Co., Ltd., TSYS’joint venture with China UnionPay with Citibank (China) Co., Ltd.

The deal is a confirmation of CUP Data’s commitment to developing and strengthening their payment processing expertise notes Mr. Chai Hong Feng, chief executive officer of CUP Data.

First CUP-standard debit card were issued by Citi China on July 30, 2008. cardholders can use it not only at all China UnionPay terminals, but also on Citibank ATMs in more than 30 countries. In addition Citi will be the first foreign bank in China to provide debit cardholders with mobile phone-based services.