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MDM Bank Announces Cooperation with China UnionPay Payment System
MDM Bank, one of the largest Russian commercial banks, announced cooperation with the UnionPay Chinese payment system. According to a press release from a financial organization, the joint project will implement the possibility of servicing payment card cards in an ATM network and MDM Bank terminals.
“UnionPay is the leader in the number of issued plastic cards in the world. We are glad that we were able to reach an agreement on mutual cooperation with UnionPay International, ”said Dmitry Kashtanov, Vice President, Head of the Electronic Business Directorate of MDM Bank.
At the first stage, the partnership will expand opportunities for holders of international UnionPay cards. Currently, the system serves 4,3 billion plastic cards. After the completion of the technical implementation of the project, UnionPay cardholders will be able to receive cash at the MDM Bank's ATM network, as well as pay at stores and shopping centers where the terminals of the MDM Bank cards are installed.