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Payment expert Todd Ablowitz, president of Double Diamond Group, said the idea “looks a great deal like a repeat of either China Union Pay (CUP) or one of the many local debit or prepaid networks around the world, like NETS in Singapore.” He noted that U.S. retailers can accept CUP thanks to a deal with The Discover Network. “If this card network gains traction, you may see a similar deal happen for acceptance in the future.”

StorefrontBacktalk, November 17, 2009