CUP Data Completes First-of-its-Kind Conversion in China
Recent conversion called a “watershed event” in Chinese bankcard processing industry
Columbus, Ga., December 20, 2007 — TSYS today announced that China UnionPay Data Services Co., Ltd. (“CUP Data”), TSYS’ joint venture with China UnionPay (“CUP”), has successfully completed a bankcard conversion for Shanghai Pudong Development Bank (“SPDB”), one of the largest joint-stock commercial banks in China.
Industry insiders call this event a first in the Chinese bankcard industry for three achievements — it was the first successful conversion from an overseas data center; the first Chinese conversion from a mainframe to an open platform; and the first Chinese conversion of more than a million accounts.
Recognized as one of the most prestigious banks in China, SPDB issued its first dual-currency credit card from an overseas data center in 2004. This conversion allows SPDB to better serve its Chinese cardholders by moving its card portfolio to the bank’s domestic data center in Shanghai.
“After an in-depth comparison of many large global players, SPDB chose our technology, which demonstrates our ability to meet their vision for the market,” said Mr. Chai Hong Feng, chief operating officer of CUP Data. “Because we understand our domestic market while meeting international standards, our client banks enjoy strong local support as well as strategic and scalable solutions to meet growth needs in the future. We are extremely proud of this accomplishment and our long-term relationship with SPDB.”
“China is a fast growing and unique market, and Chinese banks have learned very quickly what works best for them,” said Gaylon Jowers, president of TSYS International. “CUP Data not only provides banks with world-class technology that supports the distinctive characteristics of the Chinese bankcard industry, but also helps client banks make seamless transitions when they choose to adopt different technologies or processing models.”
“It’s indeed another milestone event in CUP Data’s history. Within a compact timeframe, CUP Data has completed a first-class conversion from both a technology and an implementation perspective, with no impacts or interruptions,” said Mr. David E. Duncan, managing director of TSYS Asia-Pacific, based in Shanghai. “Conversion is an extremely sophisticated process, but is part of the core competency of TSYS that we’ve been perfecting for 25 years with an impeccable success rate. TSYS will continue to help CUP Data to cement its position as the leading processor in China through investments in people, technology, and expertise.”
About CUP Data
CUP Data is China’s largest third-party processor of bankcard accounts, providing transaction processing, disaster recovery and other services for issuing banks in China. CUP Data was established in 2003, and has now more than 40 signed credit- and debit-processing client banks.
TSYS owns a 44.5-percent equity stake in CUP Data, a subsidiary of China UnionPay (CUP). CUP is the only payments network sanctioned by the People’s Bank of China, China’s central bank, and has become one of the world’s largest and fastest-growing payments networks.
About TSYS
TSYS (www.tsys.com) is one of the world’s largest companies for outsourced payment services, offering a broad range of issuer- and acquirer-processing technologies that support consumer-finance, credit, debit, healthcare, loyalty and prepaid services for financial institutions and retail companies in the Americas, EMEA and Asia-Pacific regions. Based in Columbus, Ga., TSYS (NYSE: TSS) is closely held by Synovus Financial Corp. (NYSE: SNV), one of FORTUNE magazine’s “Most Admired Companies” and a member of its “100 Best Companies to Work For” for 10 consecutive years, since it’s initial public offering in 1983. For more information, contact news@tsys.com.
Contacts
Cyle Mims
TSYS Media Relations
+1.706.644.3110
cylemims@tsys.com
Shawn Roberts
TSYS Investor Relations
+1.706.644.6081
shawnroberts@tsys.com