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OTP signs deal with Chinese card issuer

OTP Bank on Friday signed an agreement with China Union Pay (CUP) under which cards issued by the Chinese company will be accepted at the bank's network of ATMs and points of sale in Hungary.

The contract was signed by OTP Bank chairman-CEO Sándor Csányi and CUP deputy-chairman Chai Hongfeng.

From Q2 2011, cards issued by CUP will be accepted at 1,800 ATMs and 15,000 POS terminals in Hungary. The number of places the cards are accepted will be expanded gradually until the end of 2011.

CUP has issued more than 2.3 billion cards. The cards are accepted in 92 countries outside of China. CUP has issuing partners in 13 countries, issuing about 8 million cards with the Union Pay logo outside of China. (MTI-Econews)