TSYS: Your Partner in China
Our Chinese clients get the indispensable combination of TSYS®' experience in the payments industry and CUP Data’s local talents, local relationship, and local service structure. To better serve the Chinese and Asia-Pacific market at-large, we’ve established critical relationships with leaders in business and governments. In November 2005, TSYS formed a joint-venture with China UnionPay (CUP), to create a cards processing company, China UnionPay Data Services Co., Ltd (CUP Data).
CUP, one of the world's largest and fastest growing payments networks, is the only bankcard payment network sanctioned by the Chinese central bank, the People’s Bank of China. As the pivotal part of bankcard industry in China, CUP supports the development of its promising bankcard industry. On the basis of building and operating the system, CUP formulates and extends unified bankcard standards and regulations, providing inter-bank information switch, settlement data processing, and risk prevention. By the end of 2008, more than 1.7 billion cards carried its logo.
As a 45 percent equity owner and strategic partner in CUP Data, TSYS has been actively involved in growing CUP Data, which is now the Number 1 third-party bankcard processor in China, possessing more than 90 percent of the market share in outsourced payment processing business.
In 2005, TSYS opened an office in Shanghai to focus on business development and emerging growth opportunities in China and the broader Asia-Pacific region.
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