China UnionPay, China's only bank card network operator, will complete the linking of its national electronic payment network next year by moving into the four remaining provincial level markets.
China UnionPay, will set up branches in northwest China's Xinjiang Uygur and Ningxia Hui autonomous regions as well as Gansu and Qinghai provinces to complete the national payment network, said Yan Qiang, assistant president of UnionPay at the inauguration of a new branch in in Lhasa, capital of Tibet Autonomous Region over the weekend.
"Commercial banks and bank card users throughout the country will enjoy the convenient service offered by UnionPay's national bank card network next year," said Yan.
Founded in 2002, the company has also made its UnionPay cards accepted by ATMs (automated teller machines or cashpoints) and POS (point of sale) outlets in 27 countries and regions in the world.
Driven by China's booming consumption, UnionPay issued 10.21 million credit cards through its 189 domestic bank card issuers in the first half of 2007 in China, up nearly 200 percent on last year.
Source: Xinhua
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