OREANDA-NEWS. June 07, 2010. From now on, Uniastrum Bank ATMs accept cards issued by the Chinese electronic-payment network China UnionPay (CUP). CUP cardholders can now withdraw cash and check their balance at any Uniastrum cash point. This service has become available after an agreement was signed with the UnionPay network by United Settlement System (USS), of which Uniastrum is a member, and processing company UCS, reported the press-centre of Uniastrum Bank.

Launched in 2002 by Chinese banks, China UnionPay is a major and rapidly expanding national payment network, with 1.8 mn cards in circulation which are accepted at sales and service outlets in 27 countries and ATMs in 45 countries, including Russia. United Settlement System’s decision to allow CUP cards to be used at the ATMs of its member-organizations marks a new stage in the development of economic relations between Russia and China.

Since 2008 Uniastrum Bank has been part of the USS network, which today incorporates more than 5,000 ATMs. USS membership involves signing up to a tariff agreement, under which the fee charged for taking out cash with USS-member cards at USS-member ATMS is conspicuously smaller than at non-member cash machines.

According to figures released by RosBusinessConsulting news agency, Uniastrum ranks 17th by number of in-house ATMs throughout Russia and 6th in Moscow (as of year-start 2010). Based on data for April 1, 2010, the Bank’s in-house ATM network Russia-wide totals 667 cash machines, including 253 in Moscow and the Moscow region. A popularity rating survey conducted by the web portal CREDCARD.RU in 2009 shows Uniastrum to be one of Russia’s most trusted banks for plastic card services.

“Uniastrum Bank’s participation in the United Settlement System is particularly important for Russia’s regions, where ATM numbers are lower than in the capital,” says Oleg Shvetsov, Acting Chairman of Uniastrum’s Management Board. “Hooking up to USS has enabled us to extend substantially our ATM network in many regions we cover where our card programs are increasingly popular on account of the cut-price rates we offer for cash withdrawals.”