Under the terms of the deal, UnionPay cards will be used in all ATMs within Turkey. BKM will offer nationwide authorization and clearing service to UnionPay cards in order to allow cash withdrawals and balance queries for tourists.
According to data from the Turkish Tourism Office, 14 percent of 29 million tourists that have visited Turkey in 2010 have come from countries in which UnionPay cards were being issued.
UnionPay cards are valid in more than 140 countries and there are more than 3.4 billion UnionPay cards. UnionPay is also supporting the issuance of cards abroad in order to provide payment opportunities to foreigners, who are visiting China for business, travel or education purposes. 65 different companies in 30 countries are issuing UnionPay cards.
BKM provides a range of services including interbank transactions validation, performing strategic operations throughout the country for card payment systems and developing rules and standards for domestic cards.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now