UnionPay, Interswitch to Accelerate Payment Digitalisation in Africa
By Modupe Gbadeyanka
A Nigerian payments company, Interswitch, has partnered with UnionPay International as its Third-Party Service Provider (TPSP) in East Africa.
The deal will allow cardholders and merchants within the region to transact seamlessly and conveniently across various platforms on the global UPI network.
The partnership between both parties was announced on Wednesday, September 9, 2020, and will further enable payment digitalisation across the continent.
Under the agreement, UnionPay will facilitate the acceptance of Interswitch cards across ATMs, Points-of-Sale, QR Payments and online payments, thereby consolidating the existing partnership with Interswitch in West Africa and helping to drive 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.
“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 – Kenya for Interswitch East Africa’ “We look forward to working with the UPI team and we are excited for the opportunities this new agreement presents”.
Mr Mitchell Elegbe, Interswitch Group Founder and Chief Executive Officer stated that the new licensing agreement reinforced the company’s focus on achieving broad acceptance.
“We are delighted to expand our existing partnership with UPI, this time to East Africa”, Mr Elegbe said, adding that, “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”.