Banking

China's bankcard transactions hit new high

(Xinhua)
Updated: 2011-01-14 17:55

BEIJING - China's bankcard transactions jumped 46 percent to 11.2 trillion yuan ($1.67 trillion) in 2010 from a year earlier, according to latest figures by China UnionPay Co Ltd (CUP) Friday.

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CUP, China's only inter-bank bankcard fund transfer and payment services provider, said it further expanded its bankcard service to the country's small- and medium-size cities, as well as to the vast rural areas in 2010.

Also, CUP bankcards could be used in 104 countries or regions overseas by the end of 2010 after it struck agreements with 21 more countries or regions last year, according to CUP.