KCB Bank has partnered with UnionPay International to accelerate the online payment service provider’s expansion into Kenya’s booming e-commerce market while revolutionizing the country’s e-commerce payments ecosystem.
This ushers an integrated platform that will allow customers to use UnionPay cards to make payments through online merchants such as Kaymu, e-Citizen and major hotels and resorts in the East African region.
Noting that the partnership would allow KCB serve its customers better, KCB Group Chief Operating Officer Samuel Makome said, “We are keen on deepening our investments in e-payments as part of our deliberate strategy on digital banking. We believe that the future of banking is in digital”.
This is a strategic partnership for KCB as the Union Pay International card is widely accepted in China and the country has become a key business partner for traders across the region.
The Union Pay Prepaid Card which is ideal for tourists, students and business travellers going to China offers users enhanced convenience and security. It has an optional dual currency feature in cardholder’s local currency and Chinese RMB.
“With innovation at the heart of everything we do, it is our strategy to digitize Payments in Africa and UnionPay has been working to fundamentally change the face of Electronic Payments in Africa. This solution will enable the digitalization of payments in online acceptance of retailers, large and small, to take advantage of one of the world’s fastest payment processing networks,” said Li Zhixian- General Manager of UnionPay International Africa.
KCB is the first bank in Kenya to innovate with the UnionPay online acceptance. It is East Africa’s largest commercial bank with operations in Kenya, Tanzania, Uganda, Rwanda, Burundi and a representative office in Ethiopia.
UnionPay e-Commerce Services is a turnkey solution that enables merchants to easily access over five billion payment cards in the world. It will now be available to KCB merchants.
UnionPay’s e-commerce solution, the UnionPay Online Payments (UPOP) service was developed in response to the needs of issuers to offer UnionPay cardholders a safe and secure way to make purchases online globally.
UnionPay International is strengthening its cooperation with mainstream financial institutions in the region to promote the payment quality of life and assisting developing countries in financial inclusion.
It has a presence in 48 African countries where in Mauritius, Kenya, Seychelles and Congo Brazzaville it has launched debit card, prepaid card, corporate card products, allowing locals to enjoy secure, convenient and cost-effective payment services.