China UnionPay, SPD Bank to carry out all-round cooperation

China UnionPay and Shanghai Pudong Development Bank (SPD Bank) signed a strategic cooperation agreement last Friday in a bid to carry out an all-around cooperation. 

According to the agreement, the two sides will join hands in card issuance and business acceptance, transfer and clearing, cross-border payment, mobile payment projects, inclusive finance, big data and risk control, and the construction of Shanghai international financial center and the Yangtze River Delta integration.

The signing of this strategic agreement marks that the bilateral cooperation has entered a new stage. The two sides will continue to deepen innovative cooperation on bank cards, vigorously promote payment innovation and mobile payment scenario construction, strengthen cooperation on financial technology (fintech) and international business, and work together to improve payment service level, said Shao Fujun, chairman of China UnionPay. 

Zheng Yang, chairman of SPD Bank, noted that the strategic cooperation between the two sides will help promote the integration between finance and technology, make use of each other's advantage to realize win-win cooperation and common development.