MCB and UPI celebrate 15 years of successful collaboration
MCB proudly commemorates its 15-year partnership with UnionPay, a collaboration that has significantly shaped the financial landscape in Mauritius and beyond. UnionPay International, a subsidiary of China UnionPay, is the biggest card payment brand globally by the number of transactions, with enabled card acceptance in 181 countries and regions and issuance in 79 countries and regions. In Africa, UnionPay is present in 50 countries, and issues locally in 15 countries, UnionPay has launched various innovative payment products in Africa in response to the worldwide digital transformation and financial inclusion.
In 2008, UnionPay approached the Bank of Mauritius, laying the groundwork for the acceptance of the UnionPay network in Mauritius. Recognizing the immense potential, MCB became the first bank in the Indian Ocean islands to integrate the UnionPay network, anticipating the surge in tourism to Mauritius.
Today, MCB takes great pride in seamlessly integrating UnionPay into all its ATMs and POS systems. In 2017, the bank extended its acceptance footprint to include e-commerce transactions, enhancing convenience for customers. The remarkable growth of UnionPay acceptance within MCB's network, with a year-on-year increase of 71% as of November 2023, is a testament to the successful collaboration between MCB and UnionPay.
As the leading acquirer on the island, MCB remains committed to supporting UPI's growth in Mauritius. The bank's dedication to innovation aligns seamlessly with UPI's vision, fostering a strong partnership that demonstrates how strategic alliances drive mutual success.
MCB's CEO, Alain Law Min expressed optimism about the future, citing the upcoming resumption of international travel from China to Mauritius and the potential for further growth. Additionally, both companies share common objectives in Africa and the Sub-Saharan region, with MCB's strong presence in Seychelles, Madagascar, and the Maldives.
Highlighting MCB's increasing prominence in Africa and its recognition by international funding institutions, the CEO encouraged leveraging shared objectives to deepen collaboration in the region.
“We are grateful to Union Pay for 15 years of close partnership and collaboration. The bank looks forward to exploring new avenues of cooperation and innovation that will benefit both companies and contribute to Mauritius's growth and prosperity. "As the leading acquiring bank in the country, MCB remains committed to supporting the continued growth of Union Pay International in Mauritius. Our commitment to providing innovative payment solutions and enhanced banking experiences to our customers aligns perfectly with UPI's vision. We understand the importance of fostering strong partnerships, and our collaboration with UPI is a shining example of a strategic alliance that can promote mutual success."
Asad Burney, Head of Union Pay International Africa Branch: “The collaboration with MCB Mauritius marks a pivotal moment in our 15-year journey towards reshaping the future of digital payments across the Indian Ocean. Together we are working on a strategic alliance built on an ambition and a commitment to leveraging digitalization for a financially empowered future. By combining our strengths, we aim to create digital payment solutions that will contribute to an empowered and financially inclusive region.”
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