Money

    Visa to block China UnionPay int'l transactions

    (Agencies)
    Updated: 2010-06-03 11:19
    Large Medium Small

    Visa to block China UnionPay int'l transactions

    UnionPay and Visa logos are illustrated on a giant model of a bank card. [File photo / CFP]

    SHANGHAI: Visa International?has asked its global financial member institutions to stop international transactions through the China UnionPay system from Aug 1 amid intensifying competition in the sector, the official China Securities Journal reported on Thursday.

    China UnionPay, the nation's sole bank card processor, has been stepping up international expansion in recent years, fuelling tensions with global credit card companies such as Visa, MasterCard Inc?and American Express Co, which are banned from China's bank card market.

    No visa card transactions outside the mainland, including ATM cash services or card payments, should go through the UnionPay system. If they do, member institutions will be fined, the report said, without providing further details.

    Calls to Visa offices in the United States were unanswered.

    Related readings:
    Visa to block China UnionPay int'l transactions UnionPay to build up network overseas 
    Visa to block China UnionPay int'l transactions UnionPay expands to 5 more Asian countries 
    Visa to block China UnionPay int'l transactions 
    Cross-bank card transactions up 47% during Spring Festival
    Visa to block China UnionPay int'l transactions China's bank card spending up 31% in 2009

    A China UnionPay spokesperson told the newspaper Visa had no right to restrict payment channels.

    China UnionPay President Xu Luode told Reuters in an interview last November that the company, set up with the help of China's central bank, aimed to become a globally competitive brand, riding China's rising influence, but downplayed challenges to foreign players.

    Seven-year-old UnionPay, benefiting from its monopoly status in China, is already the second-biggest brand in the Asia Pacific region in terms of transaction volume, beating 40-year-old MasterCard and lagging only 50-year-old Visa, according to the Nilson Report, an industry publication.

    The United States has talked with US credit card companies about barriers they face in China and is considering the best steps to crack open that market, US Trade Representative Ron Kirk said on March 26.

    无码人妻久久一区二区三区蜜桃| 69ZXX少妇内射无码| 久久久久久国产精品无码下载 | 天堂а√中文在线| 国产在线拍揄自揄拍无码| 无码H黄肉动漫在线观看网站| 伊人蕉久中文字幕无码专区 | 成人免费无码H在线观看不卡| 人妻无码αv中文字幕久久琪琪布| 中文字幕人妻中文AV不卡专区| 精品欧洲AV无码一区二区男男 | 中文字幕一二区| 精品无码人妻久久久久久| 亚洲AV无码久久精品成人| 亚洲色无码播放| 在线免费中文字幕| 狠狠躁天天躁无码中文字幕| 无码AV动漫精品一区二区免费| 韩国免费a级作爱片无码| 久久久久久无码Av成人影院| 少妇人妻无码精品视频| 亚洲精品无码久久久久sm| 中文字幕精品一区| 最近更新免费中文字幕大全| 色多多国产中文字幕在线| 天堂最新版中文网| 亚洲日本va午夜中文字幕一区| 亚洲欧美日韩中文久久| 最好看的2018中文在线观看| 极品粉嫩嫩模大尺度无码视频| av无码久久久久不卡免费网站| 日韩免费人妻AV无码专区蜜桃 | 欧美麻豆久久久久久中文| 亚洲中文字幕久久精品无码APP| 无码专区6080yy国产电影| 国模吧无码一区二区三区| 午夜成人无码福利免费视频| 无码精品人妻一区二区三区免费 | 蜜臀精品无码AV在线播放| 天堂AV无码AV一区二区三区| 国产 日韩 中文字幕 制服|