China Construction Bank LLC with support of CardStandard PC is launching card business in Russia
Subsidiary bank of one of the largest world banks – China Construction Bank Corporation – China Construction Bank LLC is ready to provide its retail clients in Russia with the cards of Visa International and UnionPay International payment systems. It is now possible due to co-project aimed at connecting of China Construction Bank LLC to CardStandard Processing Center. Formal opening has been held on May 7, 2015 at the Bank’s office.
As a result of this unique from the technological point of view multi-stage project cards of Visa and UnionPay International (UPI) payment systems using facilities of CardStandard PC. This product is unique due to the fact that cards of two payment systems (Visa and UnionPay) are connected to one account of a customer which gives him an opportunity to choose a required one in every particular situation.
Under the project China Construction Bank LLC, being a principal member of UnionPay payment system, has been certified for issue and acquiring of payment cards therein. Unique upgrades have been made in the systems of data storage and processing in order to correctly process issuing and acquiring transactions.
The project with Visa International payment system has been organized concurrently. The bank participates in this payment payment system as an associated member under sponsorship of the Credit Union “Payment Center”, part of CFT Group. The Bank has been certified for issue and acquiring of EMV cards with the increased transaction security level.
China Construction Bank LLC was established in 2013, it is a subsidiary of one of the largest China’s state banks - China Construction Bank Corporation with a high rating of long-term credibility assigned by "Standard & Poor's» – А, "Fitch Ratings" – A, «Moody's Investors Service" - A1. According to CBR as at April 1, 2015 the Bank enters TOP-200 RF banks by the volume of net assets and TOP-100 by the amount of net profit.