German electronic e-payments processor, B+S Card Service, which already operates in 14 countries across Europe, has launched in the UK.
The group said that in addition to traditional payment transactional solutions its range of value added propositions, such as multi-currency settlement and its existing reach, should be attractive to UK companies looking to trade abroad. B+S Card Service is also one of the limited number of acquirers in the UK to offer acceptance of China Union Pay (CUP) payments.
In April 2013 the UK is set to relax travel visa procedures for Chinese citizens making it a more appealing destination for Chinese tourists who, it is estimated, spend 30% more than other nationals when they go on holiday. With many Chinese citizens possessing one of the two billion CUP cards in circulation and attracted to luxury European brands, CUP acceptance is set to become increasingly profitable for UK merchants as CUP has an average spend of £2,000 per transaction.