ATLANTA, Sept. 14, 2010 /PRNewswire-FirstCall/ -- 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"), today announced that it has become the first foreign payment card processor to launch China UnionPay card acquiring service in China. The new service will be offered to merchants in partnership with Global Payments' bank partner, HSBC. While Beijing will be the first city in which merchants will be able to take advantage of the new service, it is planned to pursue an expansion of the offering in other parts of China in the future.
With the launch of its China UnionPay card acquiring service, Global Payments and HSBC will be able to process both domestic and foreign card transactions via a common point-of-sale (POS) system, allowing merchants to operate more efficiently and enhance customer service. By consolidating all payment transactions using Visa ®, MasterCard®, American Express®, JCB® and now China UnionPay branded cards onto Global Payments/HSBC's network, merchants can enjoy the convenience of a single point of service for payments. Other benefits to merchants include access to Global Payments' global reach and world-class payment processing expertise. Merchants will be able to leverage Global Payments' product innovation and dedicated customer service.
Today, Global Payments provides China UnionPay card acquiring service in many markets across Asia-Pacific including Brunei, Hong Kong, Macau, Malaysia, the Maldives, the Philippines, Singapore, Sri Lanka and Taiwan and in the U.S., Canada, and Russia which allows mainland Chinese tourists to pay for goods and services with their China UnionPay cards at selected merchants served by Global Payments. The extension of this successful program to Beijing, China marks another major milestone for Global Payments.
Global Payments' Chairman and Chief Executive Officer, Paul R. Garcia, said, "As China's economic development continues its rapid growth, payment transactions among Chinese and foreigners travelling to China will continue to increase significantly. Merchants in China will have increasing demand for more efficient payment solutions to provide better payment experience for consumers. Therefore, we are delighted to be the first foreign payment card processor to enter the domestic card processing market in China in partnership with HSBC," Garcia said.
President - Global Payments Asia Pacific, Ian D. Courtnage, said, "This is a significant milestone and breakthrough for Global Payments in the fast-expanding payments market in China. Our merchants, initially in Beijing, can now accept China UnionPay cards, along with Visa , MasterCard, American Express and JCB cards issued outside of China seamlessly and efficiently with our unique service," he said. "Merchants can benefit from the convenience of partnering with one focused and specialised service provider and Global Payments' 'One Stop Shop' service, which is provided through a single point-of-sale terminal along with dedicated customer service support all year round. We continue to work closely with China UnionPay to support the expansion of China UnionPay card acceptance service," said Courtnage.
Global Payments Inc. (NYSE: GPN) is a leading provider of electronic transaction processing services for merchants, Independent Sales Organizations (ISOs), financial institutions, government agencies and multi-national corporations located throughout the United States, Canada, Europe, and the Asia-Pacific region. Global Payments offers a comprehensive line of processing solutions for credit and debit cards, business-to-business purchasing cards, gift cards, electronic check conversion and check guarantee, verification and recovery including electronic check services, as well as terminal management. Visit www.globalpaymentsinc.com for more information about the company and its services.
Global Payments Asia-Pacific Limited (Global Payments), currently serving merchants in 11 countries and territories across Asia, is the largest pan-Asian card processing company in the region. The company is a strategic joint venture between Global Payments Inc. (NYSE: GPN), a leading worldwide payment processor and The Hongkong and Shanghai Banking Corporation Limited. The company brings a new level of innovation to merchant services in the region with an expanded range of innovative payment solutions, industry-leading merchant reporting tools, and unparalleled merchant services. Global Payments has established a strong presence in the Asia-Pacific region and now operates in Brunei, China, Hong Kong, India, Macau, Malaysia, the Maldives, the Philippines, Singapore, Sri Lanka and Taiwan. For more information about the company and its services, please visit www.globalpayments-asia.com.
This announcement may contain certain forward-looking statements within the meaning of the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including management's expectations regarding future events and developments, are forward-looking statements and are subject to significant risks and uncertainties. Important factors that may cause actual events or results to differ materially from those anticipated by such forward-looking statements include the necessary reliance on the approval of governmental and other outside parties, as well as other logistical factors, in order to further expand our card acquiring service for China UnionPay in other parts of People's Republic of China, the risk that economic growth in China could slow significantly, negatively affecting the growth in payments transactions by Chinese nationals and foreign visitors, and other risks detailed in the company's SEC filings, including the most recently filed Form 10-Q or Form 10-K, as applicable. The company undertakes no obligation to revise any of these statements to reflect future circumstances or the occurrence of unanticipated events.
Media Relations Contact: Phyllis McNeill
SOURCE Global Payments Inc.