Standard Chartered to provide RMB credit card services in Hong Kong

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Last updated at: (Beijing Time) Wednesday, April 07, 2004

Standard Chartered to provide RMB credit card services in Hong Kong

UK-based Standard Chartered Bankin Hong Kong said Tuesday that it has signed an integration agreement with the China Unionpay (CUP) last Friday to provide RMB credit card services in Hong Kong.

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UK-based Standard Chartered Bankin Hong Kong said Tuesday that it has signed an integration agreement with the China Unionpay (CUP) last Friday to provide RMB credit card services in Hong Kong.

The deal will enable the Standard Chartered to conduct RMB credit card merchant acquiring and card issuance services offshorely in Hong Kong.

The bank is installing CUP point-of-sale machine at all designated merchant. It plans to commerce merchant acquiring services in mid-April to capitalize on the surge in China's mainland tourist arrivals in Hong Kong during the "Golden Week" holiday in May.

Tan Kong Khoon, head of Consumer Banking Hong Kong for Standard Chartered Bank, said it is a very important step for the bank.

"We are dedicated to providing quality and convenient banking services to our merchants in Hong Kong and consumers from the mainland," said Tan.

Starting business in Hong Kong from 1859, the Standard Chartered is currently one of Hong Kong's three note-issuing banks.Publicly listed on both the London Stock Exchange and the Stock Exchange of Hong Kong, the bank employs 30,000 people in over 500 offices in more than 50 countries. ��

Source: Xinhua

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