Credit-card processor TSYS said Tuesday it is making progress in China, with its joint-venture partner signing new clients and winning awards.
Columbus-based TSYS, which owns 44.5 percent of China UnionPay Data Services or CUP Data, said the company has signed card-processing contracts with Yaodu Credit Cooperative, Shandong Provincial City Commercial Banks Alliance, Yunan Rural Credit Union and Guangxi Beibu Gulf Bank.
CUP Data also has inked a prepaid-card processing deal with Kargo Card, a Malaysia-based retail marketing firm that plans to roll out stored-value and reloadable gift cards in Asia.
CUP Data, started in 2003, is the largest third-party processor in China, and is the only payments network sanctioned by the People’s Bank of China, that Asian nation’s central bank. At the end of 2008, the company had 60 client banks.
Never miss a local story.
“While the Chinese financial industry has remained relatively stable during the current economic crisis, we believe that now more than ever, it is important to bring reliability, agility and innovation to the clients we serve,” Yan Fang Wang, president of CUP Data, said in a statement.
CUP Data has received two awards in recent months, TSYS noted, one for “Most Excellent Software Products” by the Shanghai Software Industry Association.
The other was “Best Retail Payment Project Award 2009” from the publication, Asian Banker, for its work getting a Citibank debit card program up and running.