Dutch credit card organisation PaySquare, one of the largest players in the Benelux in the field of card acquiring, and China UnionPay have reached an exclusive partnership agreement. With this deal PaySquare opens the market for more than 940 million CUP card holders, and CUP is represented in 20 overseas regions.

The partnership means that PaySquare will become the exclusive provider for acceptance of the CUP credit card brand in the Netherlands. Clients from Belgium, Luxembourg and other parts of Europe can also contact PaySquare if they are interested in accepting credit cards from China UnionPay as a means of payment. For business owners in tourist areas this is a particularly welcome addition to the current payment options due to the increasing numbers of Chinese tourists. The Chinese are known for being particularly pleased to pay with their trusted CUP Card.

In 2005, the number of outbound Chinese travellers amounted to 31 million exits. The average annual growth rate during the past 5 years has been 21%. Encouraged by the Chinese and Dutch governments, the political, economic and cultural exchanges between the two countries continue to grow. Over 150,000 Chinese visited Holland last year with total expenditures of 40 million US dollars, according to China UnionPay. ( PaySquare )