China Unionpay has teamed up with Malaysian Electronic Payment System (MEPS) to launch ATM cash withdrawal services in Malaysia. Chinese visitors are able to use their CUP cards to withdraw money from around 3,000 ATMs of three involved banks including Hong Leong Bank, Maybank and Public Bank.

The MEPS is the only interbank network service provider in Malaysia. The two companies are expecting to extend this service to all of MEPS’ 15 member banks and over 6,000 ATMs by mid-2008, according to the MEPS.

The MEPS will further introduce two new initiatives in the next 18 months. The company plans to launch the ATM cash withdrawal service for Malaysia so they can access their funds in China, and to introduce the electronic POS, or e-Debit service, for CUP cardholders at participating merchants in Malaysia.

Currently, the CUP network has expanded to 26 countries including the United States, France, South Korea, Japan and Singapore.

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