The service will enable the CUP’s 2.1 billion cards to withdraw funds from participating automated banking machines (ABMs) on the Interac network while traveling in Canada. ABMs that offer the service will feature the China UnionPay logo.
Open Solutions Canada operates ABMs, accepts the designated cards, approves and settles the transactions on their POSHnet network, and provides transaction authorization through Interac.
POSHnet, a Canada-based white label ATM and POS payments switches and processing centres, provides service to more than 35,000 white label ATM and debit/credit and value-added payment terminals in merchant locations across Canada.
CUP is a bankcard association established under the approval of the State Council and the People’s Bank of China. As the bankcard association in China, CUP operates an inter-bank transaction settlement system through which the connection and switch between banking systems and the inter-bank, cross-region and cross-border usages of bankcards issued by associate banks could be realized.
Open Solutions offers strategic information management product platform that integrates core data processing applications built on a single centralized Oracle relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting and management tools, wealth management, network services, HSAs, payments and loan origination solutions.
