Cashbox Hosts China Unionpay

RNS Number : 2795X

Cashbox PLC

12 August 2009

 



Cashbox plc

(the 'Company')

Cashbox to host ceremonial withdrawal as China Unionpay 

connects to the LINK network

LINK, operator of the UK cash machine network is delighted to announce that China Unionpay ('CUP'), the Chinese card scheme, is now connected to the LINK network. This means that over 1.8 billion Chinese cards can now be used to obtain cash through all of LINK's 64,000 cash machines.

Edwin Schooling Latter, Managing Director of the LINK Scheme said 'The LINK Scheme is delighted to be opening the UK cash machine network to Chinese cardholders, be they business or tourist visitors, resident students¹ or sportsmen and spectators coming to the 2012 Olympics.'

Jianbo Cai, First Executive Vice President from China Unionpay added, 'It is exciting to have CUP cards accepted on all the cash machines of the LINK ATM Scheme. From now on, Chinese travellers will enjoy more secure and convenient cash services in the UK, which will contribute to the economic and trade exchanges between China and the UK.'

To mark this occasion a celebration lunch is being held on 12 August at the Institute of Directors in London. Among those attending are representatives of LINK, China Unionpay, the Chinese Embassy, Think London, the Central Bank of China and UK Trade and Investment.

The event will include a ceremonial cash withdrawal at an ATM specially installed in the Institute of Directors for the event by CashBox plc.

Ciaran Morton, Chief Executive of Cashbox, commented: 'We are delighted to be involved in such a prestigious launch and look forward to assisting CUP card users to conveniently access cash in the UK'.

¹ The UK Office of National Statistics estimates that 141,000 Chinese tourists visited the UK in 2007, spending an estimated £ 181 million. In addition around 100,000 Chinese students study for more than one year in the UK and each of them is estimated to spend around £25,000 per year.

-ENDS-

About LINK

LINK connects almost every cash machine in the UK, both free-to-use and pay-to-use. The LINK network is the busiest ATM transaction switch in the world. The LINK Scheme brings together the banks, building societies and other institutions that issue cards and the operators of the 64,000 UK cash machines that make up the LINK network.

The LINK network is the busiest ATM transaction switch in the world, processing around 250 million transactions a month and, at its busiest, over one million transactions an hour. The LINK network has 46 members and there are more than 130 million LINK cards in circulation from 36 card issuers.

www.link.co.uk 

About China Unionpay

China Unionpay ('CUP') was established on March 26, 2002 and is the only bankcard association in China functioning as a national bank card information switch network and enabling the interoperability of bankcards nationwide.

Today, 208 domestic and overseas banks are members of CUP and their cards are accepted in 61 countries and regions. Outside China, over 5 million CUP cards have been issued in 8 countries and regions.

http://en.chinaunionpay.com/

About Cashbox

Cashbox is a leading independent cash machine deployer with an estate of more than 2,500 ATMs in locations throughout the UK. The Company installs and operates this estate of ATMs, typically on five to seven year contracts, at sites where there is a demand for cash withdrawal services. Cashbox operates both 'free to use' ATMs as well as those which charge a convenience fee.

Cashbox was granted membership of LINK in March 2004, and is listed on the AIM market of the London Stock Exchange.

www.cashboxplc.co.uk

ENDS

For further information:

Cashbox plc
Ciaran Morton, Chief Executive	Tel: [phone]
	www.cashboxplc.co.uk
Seymour Pierce Limited
Jonathan Wright	Tel: [phone]
	www.seymourpierce.com
Fairfax I.S. PLC
Ewan Leggat	Tel: [phone]
	www.fairfaxplc.com
Threadneedle Communications
Josh Royston / Graham Herring	Tel: [phone]
	www.threadneedlepr.co.uk

 

END

 

 

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