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Article: China Merchants Bank Connects to CHIPS for Wire Payments.
- Article from:
- PR Newswire
- Article date:
- May 19, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Leading Commercial Bank Is Latest Institution To Participate
New York, May 19 /PRNewswire/ -- China Merchants Bank, the first Chinese bank to establish a branch in the United States, is now using CHIPS, the real-time, large-dollar payments system operated by The Clearing House Payments Company.
"China Merchants Bank is linking to CHIPS because of its proven capability to clear and settle payments quickly, securely and at low cost," said Hui Fang, General Manager of China Merchants Bank's New York Branch. "CHIPS enables China Merchants Bank to meet the growing international needs of its customers."
CHIPS (http://www.chips.org/) is the world's ...