Barclays Bank of Kenya has partnered with China UnionPay, which will allow card holders to transact at Barclays Bank ATMs and Point of Sale devices across the country.
Speaking on the deal, Zahid Mustafa, Barclays Bank’s Retail and Business Banking Director said he welcomed the partnership citing the flourishing relationship between Kenya and China as a catalyst for collaborative initiatives such as the launch of inclusive payment solutions.
He welcomed the partnership citing the flourishing relationship between Kenya and China as a catalyst for collaborative initiatives such as the launch of inclusive payment solutions. UnionPay card holders will transact from the bank’s network of over 220 ATMs and Point of Sale devices through its 4,200 merchants across the country.
China UnionPay has more than 5 billion cardholders globally and is the preferred payment brand for Chinese nationals. With Kenya currently receiving Chinese tourists in the region of 30,000 annually, hosting more than 40,000 Chinese nationals, 400 state and privately owned organisations spread across various sectors of the economy and undertaking vast infrastructure and telecommunications projects, it is pertinent to provide financial solutions that meet the growing usage of cards.
Addressing security of cardholders, Mr Zahid said that UnionPay cardholders would be able to carry out their transactions securely as all Barclays Bank ATMs and point of sale machines were compliant to EMV standards.
“With China being the country’s largest trading partner, I am confident that we will continue to derive more benefits from this collaboration,” said Zahid.