NYCE® today announced that it has signed an agreement with UnionPay, China’s bankcard association, to allow cardholders reciprocal access to ATMs in both networks. NYCE Payments Network, LLC, is a leading U.S. electronic payments network and an FIS™ company. FIS is the world’s largest provider of banking and payments technology.
Through a direct connection between the NYCE and UnionPay networks, the reciprocal agreement will enable participating NYCE ATM cardholders to conduct ATM withdrawals and balance inquiries in China. In addition, more than 2.6 billion UnionPay cards will have access to the more than 360,000 NYCE network ATMs. NYCE and UnionPay will work together to create future opportunities for extended payment services for their respective cardholders.
As an independent, unaffiliated PIN-based debit network, NYCE provides consumers with secure, real-time access to funds through its extensive ATM network and wide acceptance at POS locations throughout the U.S. NYCE delivers its clients real-time fraud monitoring and management, text and mobile banking applications, Internet debit and person-to-person (P2P) payment capabilities.
“UnionPay attaches high value to giving UnionPay cards as many access points to their funds as possible. By enhancing the cooperation with its partners, UnionPay is focusing on building broader acceptance in the U.S.,” said Jianbo Cai, First EVP of China UnionPay. “Now more and more ATMs in the U.S. will accept UnionPay cards at key locations that are enabled via the NYCE Payments Network. This new cooperation between UnionPay and NYCE can serve both UnionPay and NYCE cardholders more effectively. We also believe that UnionPay and NYCE will have greater win-win opportunities in the future.”
“We are pleased with the benefits that this cooperative arrangement between UnionPay and NYCE brings to our clients,” said Neil Marcous, president, NYCE Payments Network. “Providing convenient cash access in China to cardholders of NYCE’s 3,000 financial institutions and NYCE ATM access to UnionPay’s substantial card base furthers the NYCE strategy of expansion across the globe.”
NYCE Payments Network, LLC, an FIS™ company, helps its clients grow with innovative new products and strategic alliances that enable them to capitalize on the efficiency, consumer convenience and security of electronic real-time payments. The NYCE Network provides consumers with secure, real-time access to their money, offering hundreds of thousands of ATM locations and millions of point-of-sale locations nationwide. The NYCE On-Demand product offers cardholders a convenient way to pay bills online, receive loan proceeds, and fund P2P transactions, all in real-time; NYCE also offers innovative Internet purchase, mobile banking and mobile payments services. Headquartered in Secaucus, N.J., NYCE Payments Network, LLC, (nyce.net) is a wholly owned subsidiary of FIS.
FIS (fisglobal.com) is the world’s largest global provider dedicated to banking and payments technologies. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 100 countries. Headquartered in Jacksonville, Fla., FIS employs more than 32,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. FIS is ranked 426 on the Fortune 500, is a member of Standard & Poor’s 500® Index and consistently holds a leading ranking in the annual FinTech 100 list.
About China UnionPay
As the bankcard association in China, China UnionPay (unionpay.com) operates the national inter-bank clearing and settlement system, develops the worldwide UnionPay Card acceptance network, promotes the issuance and usage of the UnionPay Card as well as other innovative payment solutions, to provide quality, efficient and safe payment services to cardholders. To date, the total number of UnionPay Cards issued both at home and aboard has exceeded 2.6 billion. The UnionPay network has been extended to all the cities and rural areas in China. In addition, China UnionPay has enabled the UnionPay Card acceptance over 110 countries and regions through extensive cooperation with about 400 financial institutions around the world. In this year, UnionPay enabled the mass acceptance for credit cards in U.S. which makes it easier and more convenient for UnionPay Cardholders traveling in U.S.
This news release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions and other risks detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of the Company’s Form 10-K and other filings with the Securities and Exchange Commission.
For More Information:
Mary Waggoner, SVP, FIS Investor Relations
P: 904.854.3282, E: mary.waggoner[.]fisglobal.com.
Tony Martin, Portfolio Communications
P: +44 207 240 6959, E: tony.martin[.]portfoliocomms.com.