MDM Bank connected to the Chinese Unionpay

MDM Bank announces the start of cooperation with the subsidiary of China Unionpay - UnionPay International. Within the framework of the project at ATMs and terminals, cards of the payment system will be served, the press service of the Russian company reports .

At the first stage, the possibilities will be expanded for holders of international Unionpay cards, and after the technical implementation of the project, Unionpay card owners will be able to receive cash in the MDM Bank ATM, as well as pay in stores and shopping centers where the bank terminals are installed. Currently, the system serves 4.3 billion plastic cards, the message is noted.

“We, of course, are pleased to enter the Unionpay payment system recognizable and respected Russian bank, and most importantly, the opportunity to provide convenient, profitable and safe financial services to the Unionpay cards,” said the Director General of Unionpay International, Tsay Jiang.

MDM Bank was founded in 1990, the shareholders include the International Financial Corporation (IFC) and the European Bank of Reconstruction and Development. The regional network of the bank has 217 branches in 110 cities of Russia, more than 12,000 ATMs (including partners). The bank serves 3.5 million individuals, as well as 70 thousand corporate customers and customers of small and medium -sized businesses.

Earlier, the representative of China Unionpay Fan Zhiguan claimed that the number of its cards in Russia will reach two million pieces over three years. Today, several tens of thousands of cards of the Chinese payment system have been issued in Russia. Recently, Unionpay has attracted 30 new partners among large and small banks.

Cards of the Chinese National Payment System of China Unionpay are accepted in 141 countries of the world, however, in most cases we are talking about "combined" card products of Chinese banks - cards working in the PRC in the Unionpay system, and abroad - within the framework of agreements with Visa or MasterCard.

Recall that at the end of March, the international payment systems Visa and MasterCard stopped servicing four Russian banks, the owners of which - Putin's Friends of Rotenbergs and Yuri Kovalchuk - fell under sanctions by the United States.

Gennady Timchenko, a businessman from President Putin, because of American sanctions, also replaced Visa and Mastercard cards with a card of the Chinese payment system of Unionpay and a wallet with cash, ITAR-TASS reports.

“It works great! And they accept the map in many places. In a sense, it is more reliable than Visa. At least the Americans will not reach,” Timchenko commented on the benefit of possessing a map of the Chinese system.

On March 20, the US Ministry of Finance included Timchenko, who takes ninth place in the ranking of 200 richest Russian Forbes people, in the list of people with whom American companies and citizens do not have the right to maintain business relations. The restriction also applies to Visa and MasterCard registered in the USA. The sanctions were also saved by companies controlled by a businessman.