High Quality Content by WIKIPEDIA articles China UnionPay (Chinese: 中国银联; pinyin: Zhōnggu Y nli n), also known as UnionPay (Chinese: 银联; pinyin: Y nli n) or by its abbreviation, CUP, is the only domestic bank card organization in the People's Republic of China (PRC). Founded in March 2002, China UnionPay is an association for China's banking card industry, operating under the approval of the People's Bank of China (PBOC, central bank of China). It is also the only interbank network in China excluding Hong Kong and Macau, linking the ATMs of some fourteen major banks and many more smaller banks throughout mainland China. It is also an EFTPOS (Electronic Funds Transfer at Point of Sale) network.
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