Tanzania’s bankcard switch organization Umoja has inked a deal to accept China UnionPay cards at all ATMs that subordinate to Umoja. This will raise UnionPay cards acceptance coverage at the local ATMs from 30% to 50%.
Both companies mention Tanzania and China have entered into intimate cooperation in fields such as infrastructure construction, communications, consumer goods trading, and tourism.
Now, China has become the largest trade partner and the second largest foreign investment country of Tanzania. With more and more Chinese enterprises and people visiting Tanzania, the demand for cross-border payment is growing.
UnionPay International started its business in Tanzania in 2010, and since then, UnionPay has been recognized by many local mainstream institutions and merchants by virtue of its safe, convenient and cost-effective services.
As the only bankcard switch organization in Tanzania, Umoja has 29 member banks, covering over 60% of the local banks.
Currently, UnionPay cards can be used conveniently in 48 countries in Africa. In Tanzania, UnionPay cards are accepted at 40% of the local merchants, covering tourist attractions, shopping malls, hotels and airports that are most frequented by tourists. In South Africa, half of ATMs accept UnionPay cards; while in Mauritius, 90% of merchants and 70% of ATMs accept UnionPay cards.
UnionPay debit card, prepaid card and commercial card are issued in Congo and Mauritius. Through these efforts, UnionPay International endeavors to enhance the development level of Africa’s e-payment industry and to help the developing countries in the region to realize “financial inclusion”.
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