China UnionPay
Licensed by the People’s Bank of China and established in April 2002, China UnionPay (CUP) is a shareholding financial institution jointly established by 80 founding financial institutions. Now, CUP has more than 130 member institutions.
In October 2002, CUP successfully acquired the first batch of 800 BIN code blocks from the International Standard Organization (ISO). It symbolizes CUP’s first big step towards internationalization.
At the 2009 Q3, there were over 1.9 billion of CUP cards issued in China. After achieving its first target of "Welcomed Everywhere in China", CUP starts to implement its new target of "Providing Service Wherever Chinese go". Based on its successful experience in Hong Kong and Macau, China UnionPay launched merchant acquiring service in Thailand, Korea and Singapore. To support CUP’s internationalization strategy, OCG Thailand successfully launched CUP merchant acquiring service in Thailand at the beginning of 2005.
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