UnionPay International announced today it has signed an agreement with Kenya Commercial Bank (KCB), the largest bank in Kenya, at Canton Fair, also known as The China Import and Export Fair, to issue the world’s first UnionPay Belt and Road Commercial Card in Kenya. Offering unique privileges for business travel, transportation and trade, the Belt and Road Commercial Card brings more payment ease to UnionPay cardholders outside mainland China.
Since the proposal of the Belt and Road Initiative, China continues to deepen its trade and economic cooperation with countries and regions participating in the construction of the Belt and Road, and has become the largest trade partner for 25 markets along the Belt and Road. UnionPay International has actively promoted business development to help realize unimpeded trade and financial integration along the Belt and Road. So far, UnionPay is accepted in over 60 countries and regions participating in the construction of the Belt and Road, and more than 35 million UnionPay cards have been issued in 30 countries, supporting economy, trade and exchange between China and other countries and regions along the Belt and Road.
UnionPay International continues to improve its card portfolio catering to the diverse payment needs of customers in countries and regions along the Belt and Road, and has jointly issued multiple card products such as premium cards, themed cards, and commercial cards together with overseas partners. Now, UnionPay International launches Belt and Road Commercial Card with unique privileges, including VIP airport lounges and Airport fast track, as well as payment and business consulting services. Cardholders are also able to enjoy UnionPay discounts in fields of catering, accommodation, transportation and shopping.
The debut of the Belt and Road Commercial Card in Africa resulted from the continuously deepening Sino-African economic and trade cooperation, and the full expansion of UnionPay’s business in Africa. China has been the largest trade partner of Africa for nine consecutive years, and Sino-African cross-border payment demands continue to grow. In answer to this, UnionPay International is accelerating its business expansion in the continent. Now, UnionPay is accepted in 50 countries and regions in Africa, with overall acceptance coverage of more than 75%. Almost all merchants in Kenya accept UnionPay cards. UnionPay cards have been issued in six African countries including Kenya too.
The Belt and Road Commercial Card issued by Kenya Commercial Bank this time is a premium debit card. Local enterprises and consumers can apply for this card at KCB’s branches. In addition to the unique privileges, the card is also equipped with UnionPay’s contactless and online payment function. Cardholders can make easy online payment at about 500 online merchants such as Kenya Airways, RwandAir and Kenya Evisa Center. KCB also plans to enable its mobile application to support UnionPay QR code payment and promote local merchants to accept UnionPay QR code payment, so as to better serve local customers.
During this Canton Fair, UnionPay International has also reached cooperation with China Foreign Trade Centre. The two sides will enhance the online and offline payment experience of guests in China, to attract more African enterprises to take part in the Canton Fair and to promote export and import development.