Chinese bank card, UnionPay, now accepted by FNB point of sale devices and at ATM’s
The massive Chinese bank card issuer, UnionPay, has made its first foray into Namibia though the payment network of FNB Namibia. The target market is Chinese visitors to Namibia although there are some African countries where UnionPay cards are issued by local banks.
This week, FNB announced that UnionPay cards can now be used at any of their 4500 speedpoint terminals across Namibia as well as at all FNB ATMs.
Technically, the incorporation of UnionPay as an accredited bank card into local banking payment systems is not complicated since UnionPay has affiliation agreements with both MasterCard and Visa, both of which are widely used in Namibia.
FNB’s Head of Tourism and Merchant Sales, René Botes, said that UnionPay cardholders now enjoy easy, convenient and secure payment by credit card, same as all other credit card holders.
FNB sees their UnionPay link as a strategic move to make it more attractive for Chinese tourists to visit Namibia.
Namibia is the 175th country where UnionPay cards are accepted. Worldwide, about 54 million merchants of which 26 million are located outside China. UnionPay also works at ATM’s in those countries where UnionPay has affiliation agreements with local vendors.
Given its enormous number of Chinese clients, UnionPay is the third largest card issuer worldwide behind MasterCard and Visa. UnionPay’s footprint is dominant across Asia and the Middle East but it is also very active in North America and Australasia.
“At present, 50 countries and regions in Africa accept UnionPay cards, and the overall acceptance rate has reached more than 75%. Eleven countries in Africa have [the right to] issue UnionPay cards such as premium cards, business cards, and Asian travel cards, offering safe and convenient payment services to local residents in Africa”, said Mr Luping Zhang, General Manager of UnionPay International, Africa Branch.