Golomt Bank has launched the first CUP card in the world market, in association with China UnionPay (CUP) Company. Golomt accounts for more than 60 percent of the total card transaction volume in the Mongolian market and was chosen as the first issuer of CUP cards in recognition of its role as the pioneer of card settlement services in Mongolia with the highest number of card holders. CUP cards are accepted at all Golomt Bank ATMs and by merchants in strategic locations throughout Mongolia.  

The launch ceremony, held on January 8 at the State Academic Theatre of Opera and Ballet, was attended by the Chinese Ambassador, Yu Hong Yao, the Deputy Governor of The Bank of Mongolia, Mrs. D. Enkhjargal, CUP First Executive Vice President  Cai Jian Bo, and Golomt Bank Chairman of Board of Governors, D.Baysgalan and CEO John Finigan.

The launch of Golomt UnionPay cards makes it possible for Mongolian entrepreneurs, students and visitors to make transfers in Chinese Yuan for purchases and cash withdrawals at more than 1.5 million merchant stores and 200,000 ATMs in China.  Moreover, since the card”s principle currencies are the Chinese Yuan and the Mongolian Tugrug, foreign exchange risks will be eliminated.