UnionPay and KCB jointly announced that they are bringing QRC Payments to the people of Kenya. UnionPay International is accelerating the promotion of UnionPay QR code payment in markets outside Mainland China to create more usage of electronic payment channels, such as the “UnionPay” APP, and is a building an infrastructure model primarily focused on digitizing payments in the Eastern Africa Region.
The launch of UnionPay QR Code payment is followed by the launch of the First UnionPay Card in Kenya with KCB Bank. There is huge growth potential for QR code payments as they are a low-cost solution for merchants in the Eastern Africa region. With QR technology, merchants and acquirer Banks may not need to invest in payment terminals at point-of-sale, enabling them to transact electronically while solving many pain points associated with the use of cash. Soon UnionPay cardholders from mainland China will be able to pay via UnionPay QR Code at more than 25,00 QRC- enabled local merchants in Kenya. In the future, UnionPay cardholders at KCB shall also be able to enjoy this safe and convenient mobile payment service.
UnionPay has reached up to 100% acceptance coverage at Merchant locations and have over 80% acceptance coverage on ATMs in Kenya. UnionPay has taken many key initiatives this year in Kenya, including local settlement, local pricing, local products and local promotional campaigns, thus transforming UnionPay products truly into local payment products meeting the requirements of local habitants in Kenya and Eastern Africa region.
Digital payments have recorded enormous growth in the recent past in Kenya and with the collaboration of KCB Bank; the payments landscape is being reshaped to offer new prospects and opportunities for business to streamline their payments. With the implementation of the Belt and Road Initiative and the construction of the Sino-Africa Economic Corridor, UnionPay International has made major breakthroughs in the Eastern Africa.
With the closer communication and cooperation between China and Africa in fields of infrastructure construction, economy and finance, as well as tourism, more and more customers from Africa are visiting China and the rest of the world. To offer these customers safe and convenient payment services, UnionPay International is offering diverse products like QRC payments in the Africa region.
