WED, SEPT 09 2020-theG&BJournal- Interswitch has been appointed a Third-Party Service Provider (TPSP) for UnionPay International in East Africa after both companies entered into an agreement. UnionPay International (UPI) is a subsidiary of China UnionPay focused on the growth and support of UnionPay’s global business.
The agreement with Interswitch will facilitate UnionPay card acceptance across ATMs, Points-of-Sale, QR Payments and online payments, and consolidate the existing partnership with Interswitch in West Africa aimed at wider acceptance on the continent.
“These initiatives will ultimately enhance the current payment landscape and in turn, improve the lives of the mass markets in Africa,’’ the companies said today in a statement.
The partnership supports the vision and mission that enables further payment digitalization across the continent, allowing cardholders and merchants within the region to transact seamlessly and conveniently across various platforms on the global UPI network.
“UPI and Interswitch East Africa (Kenya) Limited share a mission to provide convenient and secure payment solutions across Africa, and this partnership continues our work to broaden acceptance to cardholders transacting across the region”, said Romana Rajput, Country General Manager – Kenyafor Interswitch East Africa’“We look forward to working with the UPI team and we are excited for the opportunities this new agreement presents”.
Mitchell Elegbe, Interswitch Group Founder and Chief Executive Officer stated that the new licensing agreement reinforced Interswitch’s focus on achieving broad acceptance. “We are delighted to expand our existing partnership with UPI, this time to East Africa”, Elegbe said. “The region presents great opportunity following significant transformation in recent years with the rapidly increasing adoption of digital technologies. This new agreement is aligned with our vision to make payments a seamless part of everyday life in Africa, and we look forward to consolidating our relationship with the UPI team.”
“This is indeed another milestone for Africa”, said Luping Zhang, General Manager of UnionPay International Africa Branch. “We are committed to promoting high-quality digital payments in Africa. Together with Interswitch, we present a powerful solution allowing African businesses to better integrate into the global marketplace”.