CUP DSB Launching Ceremony

Southern Commercial Bank witnessed the international collaboration between De Surinaamsche Bank (DSB) and China UnionPay (CUP) in China

Southern Commercial Bank Suriname (South Comm Bank) co-operates with De Surinaamsche Bank (DSB) closely to serve specific market segments in Suriname and regions of Caribbean.

On November 29, 2012, Southern Commercial Bank N.V. (South Comm Bank) was invited by De Surinaamsche Bank (DSB), our partner bank and major initiator of this project, to Shanghai, China witnessing the signing ceremony of De Surinaamsche Bank (DSB) and UnionPay (CUP) (the bankcard company of China) at the headquarters of UnionPay in Shanghai China, initiating the start of CUP card products and services in Suriname.

Mr. Wang, Vice president of UnionPay International recognizes DSB, the biggest and eldest bank in Suriname with the most expanded ATM and POS network, as the perfect partner for UnionPay. This launch of CUP card acceptance business will enable CUP cardholders to withdraw money conveniently on more than 50% of all ATMs in Suriname.

Only 10 years UnionPay has become the largest bank card company in the world. There are already 3.2 billion UnionPay cards issued for which the cards are widely accepted in 135 countries. At present, UnionPay cards can be used in 11 countries and regions in Latin America, including Mexico, Peru, Brazil, Argentina, Venezuela, Columbia, Costa Rica, France Martinique, Bahamas, Puerto Rico and Suriname.

With this signing, Suriname became the 136th country outside China to accept CUP cards, which meets the increasing demand from China to accept their cards worldwide.

Mr. Proeve, CEO of DSB, indicates that with the signing of this agreement an international collaboration with a world-class company is sealed once again. The parties have agreed that this service will be expanded at the end of the first quarter 2013 to accept the UnionPay payment cards at merchants who have a DSB POS device access. Subsequently, there will be worked on issuing UnionPay payment cards locally in the course of 2013. Issuance of these cards will give our customers the opportunity to make “plastic” payments in the Far East (China and India) as well as e-commerce transactions by companies that accepts UnionPay cards.

Once again, We congratulate the success of De Surinaamsche Bank for achieving this milestone.

To be released on 5th December, 2012

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