Standard Bank Group and UnionPay International (UPI) have expanded UnionPay’s e-commerce acceptance across nine African markets, allowing nearly 900 regional online merchants to process payments directly from UnionPay cardholders.
South Africa’s Standard Bank Group has expanded its partnership with UnionPay International a subsidiary of Chinese payment firm UnionPay to equip online merchants across nine additional African countries with enhanced digital payment options.
Nearly 900 hospitality and tourism businesses across Botswana, Ghana, Kenya, Malawi, Namibia, Tanzania, Uganda, Zambia and Zimbabwe can now take UnionPay e-commerce payments allowing them to settle orders in local currency, USD or both.
This expansion delivers on a core objective from Standard Bank and UnionPay’s initial 2024 agreement. That original deal established the issuance of UnionPay cards and online payment acceptance in South Africa, while setting the stage for a broader rollout of UnionPay services across the continent.
See also: Keystone Bank Inducts 62 Graduate Trainees to Drive Digital Banking Transformation
UnionPay stated that entering these new markets will allow merchants to accept globally recognized payment options online, driving higher conversion rates, expanding their customer reach and enabling broader participation in cross-border e-commerce.
Feng Chen, General Manager of UnionPay International Africa Branch highlighted that the move gives more than seven million UnionPay cardholders across Africa greater convenience and flexibility when doing business with local African companies.
