USEUROPEAFRICAASIA 中文双语Français
Business
Home / Business / Finance

China UnionPay partners with Kenyan bank to boost digital payments

Xinhua | Updated: 2017-08-05 14:37

NAIROBI - East Africa's largest financial institution, Kenya Commercial Bank (KCB) Group and the Chinese financial service giant UnionPay International, on Friday entered into a partnership to boost digital payments in Eastern Africa.

KCB Kenya Head of Channels Dennis Njau said that the collaboration will see the issuance of UnionPay Prepaid Travel Mate cards in the Eastern Africa region.

"The cards will enable the digitalization of payments at retailers, large and small, to take advantage of one of the world's fastest payment processing networks," Njau said in a statement released in Nairobi.

As a result of the partnership, UnionPay prepaid and debit cards with chip-enabled technology, will be issued, first into the Kenyan market and then extended into East Africa.

The cards will be equipped with chip-enabled technology, to offer advanced speed, security and convenience to the bank's customers.

Njau said that with tourism and trade increasingly becoming the mainstay of East African region's economy, the partnership with UnionPay International strengthens its cooperation with a local financial institution to cater to the new customer segment.

UnionPay International CEO, Cai Jianbo said that the prepaid cards to be rolled out in East Africa will feature UnionPay contactless technology called "Quickpass" which provide speed and convenience to cardholders at major retailers, grocery stores, cinemas, parking lots, mass transit and taxis.

"The launch of UnionPay Business in Eastern Africa will further strengthen cooperation on people-to-people exchanges and advance the financial inclusion programs," Cai added.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US