Azerbaijani processing centre examines prospects of cooperation with CUP
Azerbaijan, Baku, Oct. 30 / Trend , I.Khalilova/
The AzeriCard processing centre, which is 100-percent owned by the International Bank of Azerbaijan, examines the possibilities of cooperation with a single card-processing company in China - China Union Pay (CUP) for integration, the head of AzeriCard business development department, Jahangir Mammadov said.
"We are interested in working with this rapidly growing payment system, which has a huge customer base, and it is actively connected to the banks in the Asian region," said Mammadov.
He said under these future plans of cooperation, they examine and discuss the possibility of receiving CUP cards in Azerbaijan and card issuers, served through AzeriCard, in the territory of China's payment system.
The AzeriCard processing center was founded in 1997 and currently serves 30 banks in Azerbaijan, Russia (IBA - Dubai), Uzbekistan (Royal Bank of Scotland), 25 of which are members of international payment systems. Since the functioning of the processing center, turnover on plastic cards has grown by at least 20 times. The AzeriCard system processes one million transactions per day.
CUP was founded in March 2002 as a joint-stock financial institution with participation of over 80 domestic national financial companies. The company currently has 20 branches and more than 165 member banks, 600,000 POS-terminals (99.5 percent of POS-terminals in China), 86,000 ATMs (99.7 per cent of all ATMs in China), the number of cards issued hits one billion units.
The company's headquartered is in Shanghai. Further, the CUP cards can be used outside of China in more than 20 countries (for instance, US, Japan, Australia, Vietnam, Thailand, Germany, France and others).