China’s UnionPay has teamed with Société Générale and merchants in 8 African countries, namely Madagascar, Benin, Ivory Coast, Burkina Faso, Cameroon, Guinea, Senegal and Chad, to accept UnionPay cards.
With this new agreement, UnionPay cards are accepted by the ATMs and merchants in all the above-mentioned markets, further improving the local acceptance footprint of UnionPay cards.
In recent years, China has been providing strong support for African countries in infrastructure construction, telecommunications and the trading of consumer goods. Meanwhile, the tourism sector between China and the African continent is increasing gradually. In this context, an increasing number of Chinese enterprises and people are travelling to Africa. With SG enabling UnionPay acceptance at all of its merchants in the above-mentioned 8 African countries, nearly 20% of all merchants in these countries now accept UnionPay cards, offering payment services to UnionPay cardholders at attractions and shopping centers most popular among tourists.
At present, UnionPay has presence in 44 African countries, delivering a secure and convenient payment services to its cardholders who work in or travel to these countries. In South Africa, 50% of all ATMs accept UnionPay cards. In Mauritius, 90% of all merchants and 70% of all ATMs accept UnionPay cards. In addition, D.R Congo and Mauritius have issued UnionPay debit cards, prepaid cards, commercial cards, offering UnionPay services to local people. Soon UnionPay will also provide online payment services to its cardholders in the continent.
Besides partnering with local financial institutions in Africa, UnionPay International also joins hands with major multi-national banks to expand its business. As one of the important global partners of UnionPay, SG boasts a network spreading over 30 countries and regions, covering Central and Eastern Europe, Africa, and the Mediterranean. In the past few years, the two companies have cooperated in several markets in Europe and Africa.
For data, background and forecasts on UnionPay: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).