Banks sign on to China Unionpay

Four banks joined the China Unionpay network, China's sole national payment network, which will allow them to launch renminbi-based credit card services on the mainland. HSBC, Standard Chartered Bank, Bank of East Asia and Hang Seng Bank signed agreements to issue credit cards with the China Unionpay logo, which the banks� Hong Kong customers will be able to use for transactions via mainland point-of-sale machines and automated teller machines.