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BankservAfrica & UnionPay International team to enhance e-commerce in Africa

By Gloria Methri

July 10, 2024

  • Africa
  • Automated Clearing House
  • Bankservafrica

UnionPay, UnionPay International, BankservAfrica, E-Commerce Payments, automated payments clearing house, Card Payments, FinTech, AfricaBankservAfrica and UnionPay International (UPI) have teamed up to facilitate easier e-commerce transactions for UPI cardholders across Africa. The companies will introduce UPI e-commerce acceptance across several countries in the continent.

“As the largest automated payments clearing house in Africa, responsible for clearing and processing billions of low-value card, ATM, and account-to-account transactions annually, BankservAfrica is well-positioned to serve Africa’s growing e-commerce market regionally and internationally,” said Stephen Linnell, CEO of BankservAfrica.

“African markets have always been key and valued by UnionPay. The new project of enabling e-commerce acceptance offers great opportunities to existing UnionPay cardholders by providing African merchants expanded exposure to a global audience,” said Asad Burney, Head of UnionPay International Africa region.

In December 2023, UPI appointed BankservAfrica as its domestic on-soil processor for affordable, accessible, and innovative card payments in South Africa. Now operational in 50 African countries, UnionPay believes that this agreement will further expand its growing network, spanning 183 countries globally.

BankservAfrica is an automated clearing house (ACH) that serves as the transactional link between many of Africa’s major payment institutions. It is the largest ACH in the continent and a key partner in South Africa’s National Payment System.

UPI and BankservAfrica believe this strategic partnership positions them to be on the frontlines of accelerated e-commerce growth across the continent. The International Trade Administration estimates this rapid expansion will see about 500 million people using e-commerce for their everyday transactions by 2025.

“With the continent’s hyperconnected economy on the rise, BankservAfrica will continue to provide sustainable payment services for the digitally transforming future,” added Linnell. “We are excited by this collaboration and its potential to promote digital trade that fosters economic development and eases everyday online payments.”

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