Network International, largest acquirer and the preferred card solutions provider in the region, has signed a cooperation agreement with China UnionPay (CUP) to extend the latter’s CUP card services to more than 20 countries in the Middle East, Africa and Western Asia. The signing ceremony took place in Shanghai on June 28th in the presence of Mr. Ram Chari, CEO of Network International and Mr. Cai Jianbo, Executive Vice President of China UnionPay.
Under the agreement, Network international (NI) will help CUP expand its card acceptance in the Middle East, Africa and Western Asia. With its vast network across the regional market, Network International will allow CUP cardholders to use their cards at POS terminals and other payment modules that utilize NI’s payment services. As most major merchants in the region utilize NI’s payment services, CUP cardholders will now be able to use their cards almost anywhere. Network International will also develop CUP card issuance in the Middle East, Africa, and Western Asia, through its established connections and partnerships with financial institutions in the area.
“CUP is one of the largest bankcard associations in the world, and as China’s only interbank network, it has a huge impact on the Chinese banking industry. Network’s influence in the regional market is just as profound, so this partnership makes sense in many ways. With the growing numbers of Chinese tourists and businesses coming to the region, and growing demand for payment solutions using CUP cards, this is a natural move to make at this time. We are glad to announce our agreement with CUP and are sure it will be a success for both parties.” said Mr. Abdulla Qassem, Chairman of Network International.
Cai Jianbo, Executive Vice President of China UnionPay, expressed that, “With the increasingly frequent foreign exchange cooperation with China, CUP card has become an important payment tool for economic, trade and people exchange between China and countries across the globe. China UnionPay has always attached great importance to both the domestic and foreign card demands of CUP cardholders and is committed to provide safe, efficient and convenient payment services both at home and abroad. Taking the agreement signing as a good start, China UnionPay will push forward the cooperation with NI, substantially expand the CUP card acceptance and issuance scope in United Arab Emirates, and comprehensively accelerate extension of CUP network in Middle East, Africa and West Asia.
CUP has been expanding its network across the world, achieving acceptance in 90 countries and regions worldwide, while having the ability to issue CUP cards via 50 institutions in 13 overseas countries and regions. NI’s influence in the region will help CUP expand its operations into the Middle East, Africa, and Western Asia.
Ram Chari, CEO of Network International said: “We are confident that Network International has the expertise, capacity, and regional knowledge to help grow our partner’s business in the markets of the Middle East, Africa, and Western Asia. Our strengths are in technology and the range of services we can provide, as well as our connections with financial institutions operating across the region. This agreement will benefit not just both our companies but also the many customers who will now be able to access more services and payment options across the region.”
Network International LLC is the largest acquirer and one of the leading payment solutions providers in the region geared to meet the needs of Banks, Financial institutions, and large and individual retailers. It is also the first independent vendor certified by both Visa and MasterCard for card payments in the Middle East, and will now add CUP to its wide range of card payment options.
