UnionPay International has entered an agreement with Post Bank Uganda for a joint, large-scale issuance of 400,000 of its debit cards over the coming three years.
The move marks UnionPay’s debut in the country and is in line with efforts to boost its acceptance network in Africa by working with local institutions.
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Currently, the acceptance coverage in Uganda is more than 80% for UnionPay. The issued cards will carry EMV chip and are accepted via UnionPay’s global network having contactless payment function.
UnionPay International CEO Cai Jianbo said: “It is significant to issue EMV-compliant UnionPay chip cards together with Post Bank Uganda, for it expedites the localisation of UnionPay’s business in the market and also helps the local major financial institutions to upgrade their products, bringing better services to the local UnionPay cardholders.
“Based on this collaboration, the two sides will explore future cooperation in rolling out UnionPay’s innovative products, including UnionPay QR Code payment and B2B online payment.”
UnionPay is available is 50 African countries and regions, where its overall acceptance coverage is more than 70%. The company realised nearly 100% acceptance in South Africa, Kenya, Mauritius, Seychelles and Morocco.
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By GlobalDataIts mobile QR code payment service has been rolled out in Kenya, Djibouti and Mauritius for transactions at hotels, F&B merchants and retailers.
