China
UnionPay cooperates with Bank of Hawaii to develop the US market








In the front row from the left: Executive Vice President of China
UnionPay Cai Jianbo, Chairman of the Board of Directors and CEO of the
Bank of Hawaii A1 Landon and President of the Bank of Hawaii Peter Ho
jointly attended the signing ceremony


Since the opening of the CUP card acceptance business in 2005 in America, over 90% of the ATMs in the US market has been able to accept
CUP cards and the merchant acceptance environment has been constantly
improving. On May 24 local time, China UnionPay signed a ATM and
merchant joint development agreement with the Bank of Hawaii in
Honolulu, agreeing to open the CUP card acceptance business for
merchants under the Bank of Hawaii and install the Chinese operation
interface at all ATMs. This is the first time for China UnionPay to open
the merchant acceptance business through cooperation with a bank in the
USA. Head of the Hawaii Tourism Authority attended the signing ceremony
and expressed congratulations.


Hawaii is one of the most extensive and mature regions accepting CUP cards in the USA, with over 90% of the ATMs accepting CUP cards at
present. According to the agreement, the Bank of Hawaii will install the
Chinese interface and post the CUP logo on all its ATMs (approximately
accounting for 55% of the total ATMs in Hawaii) within the year. In the
meanwhile, it will gradually open the CUP card acceptance business in
over 4000 merchants under the Bank of Hawaii, covering the frequently
visited places of CUP cardholders such as souvenir shops, clothing
stores, convenience stores, supermarkets and jewelry stores. And the CUP
card acceptance environment will greatly improve in Hawaii.


China UnionPay has always attached great importance to its business development in the US market. Over 25% of the merchants in the
US have installed a PIN keyboard which can accept CUP PIN debit cards;
and the number of merchants accepting CUP PIN-free credit cards is on
the rise, thus the continual improved capability of satisfying CUP
cardholders with different demands. Cai Jianbo, Executive Vice President
of China UnionPay, expressed that, with the personnel exchange between
China and the US became increasingly closer, Hawaii had become one of
the main tourism destinations for more and more Chinese tourists and
even European and Asian CUP cardholders in America. The cooperation is
the first time that China UnionPay realizes the merchant acquiring
business by cooperating with an American bank, and also a new attempt in
the course of development in the US market. For the next step, China
UnionPay will further deepen the cooperation with the Bank of Hawaii,
speed up the CUP card PIN acceptance service transformation in the local
market and promote wider acceptance of CUP cards in the Hawaii region.
And the company will actively explore possibilities of other cooperation
with the Bank of Hawaii and strive towards common development and
win-win results.


Chairman of the Board of Directors and CEO of the Bank of Hawaii A1 Landon, and President Peter Ho expressed that tens of thousands of
Chinese tourists visited Hawaii every year, bringing tremendous business
opportunities, and the Bank of Hawaii would like to create a better
card use experience for such tourists jointly with China UnionPay.
Signing this cooperation agreement with China UnionPay to jointly
develop the CUP card acceptance business will not only promote the
tourism and consumption by Chinese tourists in Hawaii, but it would also
better improve the overall commercial environment, and bring clients
and benefits to the bank at the same time. The Bank of Hawaii will make
joint efforts with China UnionPay to promote mutual cooperation to
achieve fruitful results.


About the Bank of Hawaii

The Bank of Hawaii, a financial service institution for Hawaii, Saipan, Guam, American Samoa and the western Pacific region established
in 1897, is the largest independent financial institution in the Hawaii
region. There are 533 ATMs in total and over 4000 merchants in the
network of the Bank of Hawaii. It was once rated the 2008 Best
Performance Bank in the United States by the American Bankers
Association.