UnionPay International promotes Africa payments push at 7th Africa Fintech Forum

The PRNewswire announcement ties the Nairobi event to China-Africa trade growth and highlights QR payments, card issuing and API-based infrastructure for regional fintech partners.

Summary

UnionPay International used the 7th Africa Fintech Forum in Nairobi to deepen its presence in African digital payments and present itself as infrastructure for cross-border commerce rather than only a card scheme. The company said the backdrop is stronger China-Africa trade after China's policy to eliminate tariffs and ease trade barriers for 53 African nations, increasing demand for smoother settlement for exporters, manufacturers and SMEs (small and medium-sized enterprises). At the event, UnionPay emphasized three areas for fintech partners: global QR code payment routing through open APIs (software connection tools), physical and virtual prepaid card issuing and white-label programs, and ready-made integrations through processors and Banking-as-a-Service (BaaS) providers. UnionPay cards are accepted in 183 countries and regions, including 51 African countries, according to the announcement.

Terms & Concepts
  • open APIs: Software interfaces that let systems connect and exchange services
  • QR code payment routing: Processing payments through scannable code-based payment rails
  • Banking-as-a-Service (BaaS): Third-party platforms that provide banking functions via APIs