China UnionPay, founded in 2002, is one of the world's leading bank card organizations with 5 billion cards issued in more than 14 countries and accepted in 92 countries and territories - the dominant part being in China, but active on markets like Japan, Russia, Germany. In Europe, China UnionPay is present in all large markets (UK, France, Scandinavia, Germany, Italy...) as direct acquirer, and in Germany and Russia as issuer. E-Group becomes the strategic partner to operate a regional payment gateway to cover Central Europe and the Balkans area.
The first bank to connect to the gateway is OTP Bank, the largest bank in Hungary with a regional network in further 8 countries. The accord was signed by Sandor Csanyi, President and CEO of OTP Bank, the largest bank in Hungary, and Chai Hongfeng, Deputy President of China Union Pay. The agreement has enabled China UnionPay bank card holders to withdraw cash at 1,800 OTP-operated ATMs in Hungary since the second quarter of 2011, and to make purchases at 15,000 stores equipped with OTP's POS connections.