CUP Data, TSYS’ joint venture with China UnionPay, has signed a multi-year credit card processing agreement with China Postal Savings Bank (CPSB), China’s fifth largest lender.

China Postal Savings Bank holds more than US$200 billion in deposits and has more than 36,000 branches throughout every city in China. The bank is set to launch its first credit card in the near future.

Established in 2003, CUP Data now has more than 50 signed credit- and debit-processing client banks. TSYS owns a 44.5-percent equity stake in CUP Data.

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• CUP Data to Provide Card Processing Services for Bank of East Asia
• TSYS Increases Equity Stake In China UnionPay Data
• China Postal Savings Bank to be established by year end
• Citibank China Launches Renminbi Debit Card
• Postal Savings Bank Gets Approval
• VeriFone Designated Sole Payment Systems Vendor by China Postal Savings Bank