TSYS announced that China UnionPay Data Services, TSYS' joint venture with China UnionPay, has signed a credit card processing agreement with China Postal Savings Bank, China's fifth largest lender.
China Postal Savings Bank holds more than USD200 billion in deposits and has more than 36,000 branches throughout every city in China.
"We are pleased to do business with an institution that has the size and reach of China Postal Savings Bank," said Yan Fang Wang, president of CUP Data. "The group has a uniquely competitive edge, which makes it a privilege to work with them to develop their new credit card program."
Terms of the multi-year agreement were not released.
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