Cards
Open Solutions processes China UnionPay cards via Interac Wednesday 10 March 2010 | 10:45 AM CET

Open Solutions Canada has begun processing China UnionPay (CUP) cards through Interac's network.

As a result of the initiative, CUP cardholders will be able to withdraw money from participating ABMs on the Interac network while travelling in Canada. Open Solutions Canada operates ABMs, accepts the designated cards, approves and settles the transactions on their POSHnet network, providing transaction authorisation via Interac. POSHnet is a Canadian white label ATM and POS payments processing centre.

The Chinese bankcard association CUP operates an inter-bank transaction settlement system through which the connection and switch between banking systems and the inter-bank, cross-region and cross-border usages of bankcards issued by associate banks could be realized. To meet the demand for card use of the Chinese in overseas business, travel and study, the bankcard association has made the CUP cards available in nearly 83 countries and regions outside China.
 

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