China’s UnionPay to Accept Umoja Switch Card Holders

Umoja Switch card holders will soon be able to use their cards in China thanks to partnership agreement signed between Umoja Switch and UnionPay. Already UnionPay card-holders access their finance through Umoja Switch web of ATMs totaling 220 across the country.

UMOJA Switch Chief Executive Officer, Mr Danford Mbilinyi, said the move cement further business relationship between China and Tanzania that has a rich history. “We are in the process of preparing a mechanism that will enable Tanzanians who are using Umoja cards to be able to use the UnionPay service in China,” Mr Mbilinyi said during the official launching of the service.

Mr Mbilinyi said UnionPay card-holder would access an Umoja Switch service that connects some 22 financial institutions in the country spreading out on the entire country. “This is a partnership of two companies from different countries which have the same goals of serving their nations and world in general,” he told reporters in Dar es Salaam.

He further said Umoja Switch extended number of the members from six to 22 including Akiba Commercial Bank Plc, Azania Bank Limited, Bank of Africa Tanzania, TIB Development Bank, Twiga Bancorp and DCB Commercial Bank.

In the same occasion the China Ambassador to Tanzania, Dr Lu Youqing said, the economic development of any country is depending on good financial services. “Tanzania is country that needs good and safe financial services and banking system in order to bring development and economic growth,” he said.

The General Manager of UnionPay International Africa, Mr Li Zhixian said, UnionPay services are being used in more than 40 countries worldwide.

Tanzania is now among those countries and it will benefit by getting business connection with those countries that have already connected to UnionPay service. UnionPay cards are used in 141 countries and regions around the world, making it the third-largest payment network by value of transactions processed, behind Visa and MasterCard.

Originally published on DailyNews Tanzania