Source: Global Payments
Global Payments Asia-Pacific Limited ("Global Payments"), a joint venture between the U.S.-based Global Payments Inc. (NYSE: GPN) and The Hongkong and Shanghai Banking Corporation Limited ("HSBC"), has launched China UnionPay ("CUP") card acceptance service in Taiwan. This service allows mainland Chinese tourists to pay for goods and services in Taiwan with their CUP cards at merchants served by Global Payments. Global Payments in Taiwan processes the highest volume of payment transactions by non-Taiwan issued cards. The Taiwan launch marks another major milestone for Global Payments' CUP card acceptance programme, which was started 6 years ago in Hong Kong and has since grown successfully into Macau and Malaysia.
Since the open policy to mainland Chinese tourists was implemented in July 2008, the number of mainland travelers visiting Taiwan has increased rapidly over the past year. The increasing number of Chinese tourists visiting Taiwan is fueled by the recent open policy and the Cross-Strait negotiation with a mission to open up trade across the strait. This new service empowers Taiwanese merchants to capture the fast-growing spends of the mainland tourists. Merchants in Taiwan can simply add the CUP card acceptance functionality to their existing Global Payments' point-of-sale terminals through a simple and free re-programming.
Commenting on the launch, President - Global Payments Asia-Pacific, Ian Courtnage, said, "We are pleased to launch the China UnionPay card acceptance service in Taiwan. We are delighted that we can now bring our regional expertise in processing CUP card transactions into the Taiwanese market and enable our merchants to enhance their service to the growing number of mainland tourists. Our merchants can be assured that Global Payments will always strive to provide the finest payment products and services to meet their growing needs."