IMGCAP(1)]
In another sign of international growth for the company, China-based payment card network China UnionPay has signed a deal with Singapore-based DBS Bank Ltd. that will expand acceptance of UnionPay-branded cards in that country. In a statement, the bank says the deal will enable UnionPay cardholders to withdraw cash at DBS-deployed ATMs in Singapore department stores. UnionPay cardholders also can withdraw cash at ATMs within the DBS network, the bank says. The deal will benefit UnionPay cardholders traveling from China. According to figures from the Singapore Tourism Board, UnionPay cardholders in Singapore withdrew a combined average of S$2.4 million (US$1.7 million or 1.2 million euros) per month over the first six months of 2008, up 100% from the S$1.2 million average monthly amount during the same period last year.
