Russian bank Gazprombank will launch Chinese
credit-card organisation UnionPay’s card payment service at its
ATMs and merchants by the end of the year.
Under the new agreement Gazprombank’s card
terminals will facilitate the use of UnionPay cardholders.
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“Taking into consideration the great client
base of UnionPay and the increase of tourist flows from both sides,
we expect fast and stable growth of operations of [UnionPay’s cards
payment business],” said Valery Seregin vice-president of
Gazprombank
Thanks to the increasing number of
cross-border transactions between China and Russia, UnionPay has
been increasing its acceptance in the country since 2007 and is now
available at 16,000 ATMs and nearly 5,000 merchants.
Gazprombank, Russia’s largest non-state owned
bank has 2,000 ATMs and nearly 8,000 POS machines in parts of
Russia, Armenia and Belarus.
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By GlobalData
