Home Business Press Release; KCB Bank Kenya Taps More Payment Options in Link up with UnionPay

Press Release; KCB Bank Kenya Taps More Payment Options in Link up with UnionPay

by kenya-tribune
18 views


Press Release;

KCB Bank Kenya in partnership with Union Pay, one of the world’s leading payment service providers have yet again enhanced the payment options for their local and international mutual customers.

Customers can now make payments from
the UnionPay App as well as Apple Pay on KCB Point of Sale (POS) terminals regionally
in a deal announced on Friday in Nairobi.

This is yet another African first
delivered by the partnership in a quest to build seamless and delightful
payment experiences across East Africa.

The China-based firm and East Africa’s largest lender
by assets also committed to rolling out more services to drive E-commerce and
remittances between China and East Africa, riding on trade relations between
the two regions.

This programme will enable the digitalization of
payments at retailers, large and small, to take advantage of one of the world’s
fastest growing payment processing networks.

“We
have managed to make various milestones around this partnership which we see as
a way of boosting economic relations between Kenya and China. As an enabler of
East Africa’s economic journey, we are keen to roll out more services to drive
this agenda, boosting trade, e-commerce and remittances,” said KCB Group CEO
and MD Joshua Oigara while hosting a delegation of senior UnionPay executives
led by Cai Jianbo, the CEO Union Pay International.

KCB and Union Pay have partnered over the past five years in the areas of merchant acquiring both for POS Acquiring and E-commerce, ATM Acceptance and issuing. Last year, the two rolled out the UnionPay Prepaid Travel Mate cards in Eastern Africa. As a result of the partnership, UnionPay prepaid and debit cards with chip-enabled
technology are now being issued in the Kenyan market and later into East
Africa. The Travel Mate cards is equipped with chip-enabled technology, to
offer advanced speed, security and convenience to the bank’s customers.

“We are excited to continually roll
out services which will drive trade relations between China and Africa. With
innovation at the heart of everything we do, it is our strategy to digitalize
Payments in Africa and UnionPay has been working to fundamentally change the
face of Electronic Payments in the Africa region” said Cai Jianbo, UnionPay
International CEO.

Digital payments have recorded enormous growth in the
recent past in Kenya and with the collaboration of KCB Bank, the payments
landscape is being reshaped to offer new prospects and opportunities for
businesses to streamline their payments.

With the successful acceptance platform, KCB and UPI were
the first institutions in Africa to jointly issue the first UnionPay card with
the mobile QuickPass. This is tap and go functionality, supporting the upgrade
of the local payment industry through product enhancement.

At present, 90% of merchants and 75% of ATMs in Kenya
accept UnionPay, and KCB has enabled all their ATMs and merchants in Kenya,
Burundi, Rwanda, Tanzania and Uganda to accept UnionPay cards. Currently,
cardholders can conveniently use UnionPay cards in 48 African countries.
Multiple UnionPay card products have been issued in Mauritius, Seychelles,
Tanzania and Congo (Kinshasa).

With the implementation of the Belt and Road Initiative and the construction of the Sino-Africa Economic Corridor, UnionPay has made major breakthroughs in the Eastern Africa region. The launch of UnionPay Business in Eastern Africa   will further strengthen cooperation on people-to-people exchanges and advance the financial inclusion programs. UnionPay International is a subsidiary of China UnionPay focused on the growth and support of UnionPay’s global business. In partnership with more than 2000 institutions worldwide, UnionPay International has enabled card acceptance in 174 countries and regions with issuance in 52 countries and regions.

You may also like