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VTB started servicing bankcards of the Chinese processing company China UnionPay Co., Ltd.

 
20 November 2006

In November 2006 VTB started servicing bankcards of the Chinese processing company China UnionPay Co., Ltd. (UnionPay cards) in its several ATMs located in Moscow and in the regions bordering the People's Republic of China. Later on the cards of this payment system will be accepted by the entire ATM network and trade and services outlets of both VTB and other banks of the VTB Group.

This banking product is an easy and safe payment instrument for the Chinese people traveling to Russia that will further strengthen trade and economic relations between the two countries.

China UnionPay Co., Ltd. is the only nationwide processing company in China. Currently the company provides services for all financial institutions in China issuing bankcards. The volume of China UnionPay Co., Ltd. paid-up capital is CNY 1.65 billion (approximately USD 200 million). The number of UnionPay cards issued to date is over 900 million.


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