China is pushing its forex into Africa by way of fintech partnerships – Fintech Zoom

News Snapshot:

On September 9, UnionPay Worldwide introduced a partnership with Interswitch East Africa, the regional enterprise of the Nigerian-based Interswitch Group. Beneath the partnership, Interswitch grew to become a Third-Occasion Service Supplier (TPSP) for China’s UnionPay. This implies UnionPay playing cards shall be accepted throughout ATMs, Factors-of-Sale, QR Funds and on-line funds within the East African area. The latest deal is a part of an present partnership between the 2 funds heavyweights. In 2013, UnionPay teamed up with Interswitch to permit UnionPay’s cardholders to make transactions at over 11,000 ATMs and 70,000 retailers in West Africa and Uganda. The brand new...