Africa ICT Markets

PostBank & UnionPay International Unveil New Payment Card to Boost Digital Transactions in Uganda.

                                                                                                                                                                                                    KAMPALA. PostBank Uganda, a financial institution that is committed to empowering people to transform their lives and UnionPay International, the world’s largest payment cards company, have today unveiled UnionPay PostCard, a new payments and transaction card to enable the bank’s customers to conduct fast and safe cashless transactions across the world.

With the UnionPay PostCard, PostBank customers can now transact at over 3,000 merchant points in Uganda and over 31 million merchants across 179 countries in the world.

Unveiling the UnionPay powered debit card to the media today, Mr. Julius Kakeeto, the Managing Director PostBank said; “Today, we unveil a significant and highly prized asset because of its importance to our customers who have continued to be loyal to us, despite the current global and local challenges we are facing together. The asset we are unveiling today is the UnionPay PostCard which is set to bring numerous benefits and convenience to many of our customers across the globe.”

The launch of the UnionPay PostCard follows the start of a successful partnership between PostBank and UnionPay International in an effort to take the bank’s services beyond Uganda’s borders and respond to customer needs. Kakeeto noted that, “I’m happy that this partnership with UnionPay International is set to further accelerate our mission of empowering people through the provision of excellent financial services.”

“To make access seamless and fast, we have rolled out instant issuance of the UnionPay PostCards to our customers in a number of our branches and intend to have this capability across our branch network by the end of this year. I therefore urge our customers to sign up for this card so that they can take advantage of its numerous benefits and experience a new efficient and effective way of payments and banking with us. “With this card, you will Pay for More, Your Way,” Kakeeto concluded.

Virtually speaking at the launch, Mr. Luping Zhang, the General Manager, UnionPay International Africa Branch said that, UnionPay and PostBank will soon roll out a multitude of innovative payment services. “We have recently initiated the Money Express (International Remittance Services) project with Post Bank, that will go live later this year,” he noted.

Mr. Luping also remarked that, “In the future, we hope to continue to leverage the advantages of UnionPay in terms of network, products and services, and continue to strengthen cooperation with PostBank in more fields.  This partnership also contributes value in promoting mobile banking allowing PostBank customers to pay with their e-wallets in Uganda and in other countries in the region, including China, and to access other UnionPay products such as; UnionPay QR code wallets, HCE wallets, and UnionPay Contactless payment.”

As part of PostBank’s on-going Digital Banking, Beyi Powa campaign, the bank is also rolling out a UnionPay PostCard specific marketing campaign to raise awareness about the new card and its importance to customers.

Speaking at the launch, the Chief Guest, Mr. Emmanuel Mutebile-Tumusiime, the Governor Bank of Uganda represented by the Executive Director - Supervision Bank of Uganda, (BoU) Tumubweine Twinemanzi commended PostBank for partnering with UnionPay to introduce a new and affordable payment card for the market, in addition to launching Digital Banking, Beyi Powa. “I am delighted that today we launch a digital product that will not only enhance easy access to financial services by customers but also enable them transact safely by minimizing human interaction in the current unprecedented times and beyond.,” Dr. Twinemanzi noted. He also pledged Bank of Uganda’s support towards a more robust banking industry and stable economy.

About PostBank Uganda.

PostBank Uganda (PBU) is a public company limited by shares and formed under the Public Enterprises Reform and Divestiture Statute of 1983 and the Uganda Communications Act, 1997. It was incorporated under the Companies Act in 1998 and is owned by the Government of Uganda with 100% shareholding.

PostBank as a financial institution is committed to empowering people and transforming lives through financial inclusion initiatives.

About UnionPay International

UnionPay International offers high quality of cross-border payment services, competitive and secured services to cardholders worldwide, and ensures convenient and swift local services to an increasing number of merchants and customers of UnionPay cards.

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.