How does China UnionPay operate as a payment network?

China Union Pay (CUP) has no different of a flow for processing and settling payments than say Visa or Mastercard. Their may be certain nuances that are handled differently, but all in all, the process is the same (substitute Visa/Mastercard below with CUP):


Settlements are done by the designated CUP assigned settlement bank, which is usually on a batch-processing basis, except cash advances.