December 14, 2008

The Beijing Branch of the Bank of Communications (BCOM Beijing), headquartered in Shanghai, and the fifth largest bank in China, has signed an agreement with Yucheng Technologies Limited (Beijing), which will provide outsourced Point of Sale (POS) merchant acquiring services, targeting merchants in Beijing as potential new customers of credit and debit card processing services.

Yucheng's POS merchant acquiring services for BCOM Beijing include merchant acquisition, deployment, installation and maintenance of POS terminals, merchant training, as well as a 24-hour technical support hotline.

As part of the agreement, Yucheng will purchase the POS terminals and supply consumables and repair parts for the terminals; fees generated from transactions processed via the installed POS terminals will be shared with BCOM Beijing under a long-term agreement. The POS terminals are designed to accept all major local and foreign credit and debit cards, including China UnionPay, VISA, MasterCard, Amex, and JCB.