Equity Bank has signed up with the China Union Pay to allow its customers in Kenya and throughout East Africa to make transactions from the bank’s ATMs and points of sale.
China Union Pay cards will be accepted at Equity offering the union’s customers a convenient and wider network.
Equally, Equity Bank customers on VISA will be able to access their accounts from China Union Pay’s ATMs and POS all around the world, making it easy and convenience for Kenya’s business community that imports goods from China to transact business.
With the signing up of the new deal, the bank becomes China Union Pay’s sole agent in East Africa, and the third on the continent to sign up the service after South Africa and Mauritius.
China Union Pay has issued over 2.3 billion cards globally, offering a wide market for its partners.
The Chinese population in East Africa has been growing steadily over the years, with China’s massive investments in infrastructure development, energy, oil and mineral exploration.
Earlier this year, Equity Bank signed a Sh4 billion loan in support of the SME sector in Kenya with the China Development Bank, offering the cheapest source of funding for the sector in the country.