China Unionpay and VocaLink have reached an agreement enabling CUP bankcards to be used in all LINK ATMs. This is the first time that a provider of financial services in the UK has entered into partnership with CUP.

From early 2009 Chinese visitors to the UK will be able to withdraw sterling from the LINK ATM network, which is supported by VocaLink’s switching solution. Currently, visitors have to carry cash or use dual-currency credit cards which carry a higher withdrawal fee.

In 2007, 144,000 Chinese visitors came to the UK. This figure is expected to rise as there is growing interest in the UK due to the 2012 Olympics. Chinese visitors are bringing immense spending potential. In addition, around 100,000 Chinese students study in the UK.

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