China Unionpay has signed an agreement with Maybank, the largest local bank in Malaysia, to enable CUP cardholders benefit from cashless payments at Maybank’s extensive merchant base in Malaysia. In terms of network infrastructure, Malaysian Sinopay Sdn Bhd is appointed as a Third Party Service Provider.

Maybank is the largest merchant acquirer with over 45,000 merchants accepting debit, charge or credit cards. In this partnership, CUP cards will be accepted by selected Maybank merchants at destinations and locations Chinese nationals will visit or shop. These include duty free shops, retail outlets, food and beverage, institutions of higher learning as well as entertainment outlets.

The framework for accepting CUP cards at Maybank’s POS terminals will be extended to its automated teller machine (ATM) network at a later stage. China UnionPay’s cardholders can look forward to accessing the largest ATM network of than 2,000 ATMs nationwide.

Maybank Group is the largest financial services group in Malaysia with operations in key international financial centres. In China, Maybank has a branch in Shanghai and Hong Kong and a representative office in Beijing. Maybank Group’s pretax profit for the year ended 30 June 2007 was RM4.36 billion (US$1.27 billion). It is one of the largest public listed company by market capitalization on the Malaysian bourse.