Itau Unibanco And China Unionpay Sign Trade And Cooperation Agreement

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29th September 2010, 09:12am - Views: 1433





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MEDIA RELEASE PR41510


Itau Unibanco and China Unionpay Sign Trade and Cooperation Agreement


SAO PAULO, Sept. 29 /PRNewswire-AsiaNet/ --


    Itau Unibanco signed yesterday a trade and cooperation agreement with

CHINA UNIONPAY CO. LTD (CUP). By this contract, CUP clients with their 2.2

billion credit and debit cards will be able to withdraw at over 30,000 Itau

ATMs 24 hours a day, 7 days a week.


    CUP, based in Shanghai, was established in March 2002 and today has over

400 associated institutions, domestic and foreign. It is present in over 90

countries.


    In 2009, about 50 million Chinese traveled overseas. The expectation is

that this number will increase significantly over the next five years. Brazil

is already a popular destination for Chinese and should be even more due to

the 2014 FIFA World Cup and the 2016 Olympic Games.


    "The acceptance of our ATMs is the first step of a strategic alliance

between Itau Unibanco and CUP. It is also related to the partnership that

Redecard, a company controlled by Itau Unibanco, has just signed with CUP so

that the network of commercial points associated with Redecard in Brazil

could also accept the 2.2 billion cards with the Asian brand" says Fernando

Teles, Itau Unibanco's Credit Cards director.



SOURCE: Banco Itau Holding Financeira S/A


    CONTACT: Paulo Marinao, Corporate Communications, Itau Unibanco, +55-11-5019-8880/8881,

imprensa@itau-unibanco.com.br








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