Chinese financial services solidifies partnership with local bank
Mr. Luping Zhang, the General Manager, UnionPay International, Africa (L) hands over a plaque to Mr. Julius Kakeeto, the Managing Director PostBank Uganda, in recognition of the bank emerging the Best Issuing Bank in Africa in 2020. PostBank Uganda has issued out 200,000 UnionPay cards having launched the card in November 2020. This ceremony happened in Kampala Serena Hotel last week
UnionPay International, a Chinese financial services corporation headquartered in Shanghai, China, has solidified its partnership with Post Bank Uganda after recognising the government owned financial institution for what it describes as outstanding achievements towards business development of UnionPay in the African region, particularly in the previous year.
In the same event held last week in Kampala to present the Posta Uganda with the award, the Chinese financial services corporation also solidified its partnership with domestic commercial bank after launching UnionPay PostCard, which essentially enables the bank customers to transact business with several financial institutions around the global including with 50 countries in Africa and the entire China with ease and convenience.
With the UnionPay post card players in trade finance do not have to bother moving with hard cash are as long as their card is credited. They can make payments at more than 3000 merchant locations in Uganda and 52 million merchants across 179 countries globally, using the new card launched last week in Uganda.
The objective of Post Bank Uganda with this is to deepen financial accessibility in the most affordable way possible, thanks to products such as UnionPay post card which allows the bank dream to take shape.
“We want as many Ugandans to have access to affordable financial services and this Is the journey that will see reduction of cost and access to banking services,” the managing director of Post Bank Uganda, Julius Kakeeto last week during the launch of the card.
As for the UnionPay International General Manager in charge of Africa Branch, Mr Luping Zhang, about 50 countries in Africa with 80 per cent coverage are transacting with this product.
