Allowing merchants to capture mainland Chinese tourists' spending
KUALA LUMPUR, Malaysia, May 21 /PRNewswire-Asia/ -- Global Payments Asia-Pacific Limited ("Global Payments"), a joint venture between The Hongkong and Shanghai Banking Corporation Limited ("HSBC") and U.S.-based Global Payments Inc. (NYSE: GPN), has launched China UnionPay ("CUP") card acceptance service to merchants in Malaysia. This service allows the merchants to accept electronic card payments from CUP cardholders at their stores. The launch marks an extension of Global Payments' CUP card acceptance programme, which previously had been offered in Hong Kong and Macau.
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With more than 1.8 billion CUP cards in circulation and the rising number of Chinese tourists visiting Malaysia, this new service empowers Malaysian merchants to capture the fast growing spends of these Chinese visitors, who today pay mostly with cash. Merchants in Malaysia can add the CUP card acceptance functionality to their existing Global Payments point-of-sale terminals through a simple and free re-programming.
Commenting on the launch, President - Global Payments Asia-Pacific, Ian Courtnage, said, "We are very pleased to launch the China UnionPay card acceptance service in Malaysia. China is contributing significantly to outbound tourism in Southeast Asia and Malaysia is attracting the lion's share. Merchant establishments in Kuala Lumpur and other premier tourist destinations throughout Malaysia will now be able to enjoy the dual benefits of reducing the burden of managing cash payment from Chinese patrons as well as generating higher ticket sales. The CUP acquiring adds to our comprehensive range of card types already supported and this new service enhances Global Payments' one-stop-shop card processing strategy for merchants."
About Global Payments Asia-Pacific Limited
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 http://www.globalpayments-asia.com .
This announcement by Global Payments' 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 revenue and earnings estimates and 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 following: continued certification by credit card associations, foreign currency risks, competition and pricing, product demand, market and customer acceptance, development difficulties, the effect of economic conditions and consumer spending, security breaches or systems failures, costs of capital, changes in state, federal or foreign laws and increases in credit card association fees, utility or system interruptions, the ability to consummate and integrate acquisitions, 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:
Lillian Ng
Tel: +852-3529-5862
Email: lillian.ng@globalpay.com
