BankservAfrica and UnionPay International Boost E-Commerce in Africa

BankservAfrica and UnionPay International (UPI) are collaborating to make e-commerce transactions easier and safer for UPI cardholders at online merchants in Africa.

BankservAfrica and UPI have joined forces to introduce UPI e-commerce acceptance in several African countries. This builds on UPI’s appointment of BankservAfrica in December last year as the national land-based processor for affordable, accessible and innovative card payments for South Africa.

Stephen Linnell, CEO of BankservAfrica, said: “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 per year, BankservAfrica is well-positioned to serve the growing e-commerce market in Africa regionally and internationally.”

UnionPay operates in 50 African countries and this agreement will further expand its growing network covering 183 countries worldwide

The organization mentions the United Nations Conference on Trade and Development in 2023. This event, aimed at supporting the internet economy, has the potential to increase the continent’s gross domestic product by $180 billion.

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

UPI and BankservAfrica believe this strategic partnership puts organizations on the front lines of accelerating e-commerce growth across the continent. The International Trade Administration estimates that this rapid expansion will result in about 500 million people using e-commerce for everyday transactions by 2025.

Linnell added: “As the continent’s hyper-connected economy grows, BankservAfrica will continue to provide sustainable payment services for a digitally transformative future. We are excited about this partnership and its potential to promote digital commerce that drives economic development and facilitates everyday online payments.”

“BankservAfrica and UnionPay International Power E-Commerce in Africa” was originally created and published by Electronic Payments International, a GlobalData brand.

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