Shanghai will set up more ATM machines in small stores, make
cross-bank transactions easier and debut a chip-based bank card for
small electronic payments to improve its bankcard system, officials
said yesterday.
"Several high-level events are coming to Shanghai such as the
2007 Special Olympics, the Beijing Olympic Games and the World Expo
2010," said city vice mayor Feng Guoqin. "The local electronic
payment system has to be upgraded."
By the end of 2007, the number of POS (point of sales) machines
in the city is expected to hit 100,000, compared with 84,000 by the
end of last year. Purchases made with bankcards will account for 38
percent of retail sales in the city, a rise of three percentage
points from last year, officials said.
More than 75 percent of stores with annual sales topping 500,000
yuan (US$65,789) or more than 100 square meters in retail space,
should be able to accept bankcards by the end of 2007, a 12
percentage points' jump from the end of last year. That rate will
hit 90 percent by the end of 2008, according to the Shanghai
Municipal Informatization Commission.
"The new POS machines will be mainly installed in tourism sites,
schools, hospitals and stores within 500 meters of gyms or athletic
centers," said Liu Jian, vice director of the IT commission.
Meanwhile, the local IT commission, China UnionPay, and the
Shanghai Headquarters of the People's Bank of China are working
together on an integrated circuit-based bank card with touch-less
payment functions and higher levels of security standards.
Today's related
report:
Ukraine First to Sign World Expo Contract
World Expo Shanghai organizers today signed the participation
contract with Ukraine, the first one among the 138 confirmed
participants, making Ukraine's inter-government promise into a
legal text.
To participate in World Expo, countries, regions and
international organizations should first confirm to attend the
event after receiving the invitations from the organizers, then
sign the participation contracts so as to start pavilion
construction.
Hong Hao, director of the Bureau of Shanghai World Expo
Coordination, signed the contract with Valeriy Pyatnitskyy,
Ukraine's vice minister of Economy, on behalf of the Chinese
government.
Hong said World Expo Shanghai is a new communication platform
for the Sino-Ukraine relationship. The organizers hoped that
Ukraine could display a splendid national pavilion.
Hong also said that China would keep its promises in the
contract and provide high-quality services to the participants.
More than 30 countries, including Canada, Australia and Japan,
have been undergoing the technical negotiation of the contracts
with the organizers.
As one of the earliest participants in the Expo, Ukraine sets
the theme of its national pavilion as "city from ancient to
modern." The country will exhibit the unique Ukrainian culture and
history by introducing its traditions as well as high-tech
development in cities and towns.
More participants are expected to sign the contracts in November
when the second participants meeting to be held in town in
November.
(Shanghai Daily May 23, 2007)
