NEW YORK - The Bank of China and the People's Construction Bank of China announced that they will issue automated teller machine cards enhanced with Maestro and Cirrus.
The Beijing-based banks, the first financial institutions in the People's Republic of China to acquire debit transactions and issue debit cards, estimate they will issue cards to more than six million Chinese customers by the end of the first quarter 1995.
Cardholders in China and visitors there will be able to obtain cash using the MasterCard International/Cirrus ATM network, as the banks integrate existing ATMs into the network during the next 12 months.
Maestro cardholders can pay for goods or services worldwide electronically at the point of sale. Maestro is accepted for payment in 24 countries on five continents.