Tanzania: NMB Launches Unionpay Cards

By Daily News Reporter in Zanzibar

NMB Bank Plc has partnered with the UnionPay International (UPI) to launch the UnionPay cards that will be accepted at the bank's ATMs and Point of Sale (PoS).

During the event graced by the Zanzibar Tourism Minister, Mr Mahmood Thabit Kombo, the two institutions also launched an e-commerce platform that will see NMB Bank's merchants being enabled to accept online payments on their websites.

The NMB Bank's Chief Executive Officer, Ms Ruth Zaipuna said the UnionPay cards will facilitate quick, easy and secure payment services enabling real-time access to UnionPay cardholders to their funds with extra digital value-added services.

"This is another milestone on NMB Bank's commitment to enhance customer service access and experience. It is also an opportunity for merchants such as retail stores, hotels, tour operators, to boost their cross-border businesses by accepting online payments," she said.

"With our chain of more than 1,750 PoS terminals and over 800 ATMs across the country, the service is expected to significantly benefit UnionPay cardholders."

A UnionPay card is recognized as a significant payment tool for the trade, tourism and culture exchanges between Africa and Asia.

This cooperation between NMB Bank and UnionPay International has further extended UnionPay's cross-border capabilities and symbolize a new era of financial transformation," said Mr. Luping Zhang, General Manager of UnionPay International Africa Branch, "We are excited to roll out this comprehensive acceptance with NMB Bank, a market leader in Tanzania."

Today, with over 8.4 billion cards issued in 61 countries and regions, UnionPay serves the world's largest cardholder base. In Africa, UnionPay is present in 50 countries with cards issued locally in 11 countries.

Moreover, UnionPay has launched various innovative payment products in Africa in response to the worldwide digital transformation and financial inclusion.

According to Mr Kombo, 250 million Asians, who mostly hold UnionPay cards, make holiday trips across the world each year.

"If we get only one per cent of the number of travellers from Asia then we should be fine," said the Zanzibar Tourism minister, Mr Mahmood Thabit Kombo.

He said in a recent survey, about 40 per cent of tourists who visited Zanzibar, said they would be willing to return to the Isles if the country improves its payment systems.

With over 8.4 billion cards issued in 61 countries and regions, UnionPay serves the world's largest cardholder base, according to Mr Zhang.

In Africa, UnionPay is present in 50 countries with cards issued locally in 11 countries.

Moreover, UnionPay has launched various innovative payment products in Africa in response to the worldwide digital transformation and financial inclusion.

Last year, Zanzibar received 528,425 tourists who earned the country a total of 421 million US dollars in forex earnings.

Tourism accounted for 30 per cent of Zanzibar's GDP last year and 82.1 per cent of Foreign Direct Investment (FDI).