China UnionPay which is also known as UnionPay or sometimes even CUP, for short, is a well known bank in People’s Republic of China. Its claim to fame is the fact that it is the only domestic bank card company in the country.
It acts as the association for all the banking card companies in China. It also acts as the interbank networking facility for all the banks in China except Hong Kong and Macau. What’s more, it links all the ATMs around the country and its cards are even accepted by the ATM machines in Macau and Hong Kong.