PostBank & UnionPay International Unveil New Payment Card to Boost Digital Transactions in Uganda

KAMPALA,Uganda,Nov. 27,2020 -- PostBank Uganda,a financial institution that is committed to empowering people to transform their lives and UnionPay International,the global leading card payment company have today unveiled UnionPay PostCard,a new debit card to enable bank customers to conduct fast and safe cashless transactions across the world.

With the UnionPay PostCard,PostBank customers can now transact at over 3,000 merchant points in Uganda and over 52 million merchants across 179 countries and regions in the world.

Unveiling the UnionPay powered debit card to the media today,Mr. Julius Kakeeto,the Managing Director PostBank said,"Today,we unveil a significant and highly prized asset because of its importance to our customers who have continued to be loyal to us,despite the current global and local challenges we are facing together. The asset we are unveiling today is the UnionPay PostCard which is set to bring numerous benefits and convenience to many of our customers across the globe".

The launch of the UnionPay PostCard follows the start of a successful partnership between PostBank and UnionPay International in an effort to take the bank's services beyond Uganda's borders and respond to customer needs. Kakeeto noted that,"I'm happy that this partnership with UnionPay International is set to further accelerate our mission of empowering people through the provision of excellent financial services."

"To make access seamless and fast,we have rolled out instant issuance of the UnionPay PostCards to our customers in a number of our branches and intend to have this capability across our branch network by the end of this year. I therefore urge our customers to sign up for this card so that they can take advantage of its numerous benefits and experience a new efficient and effective way of payments and banking with us. With this card,you will Pay for More,Your Way," Kakeeto concluded.

Mr. Luping Zhang,the General Manager,UnionPay International Africa branch said,the UnionPay PostCard is designed with the highest safety standards by UnionPay and will enable PostBank customers to transact at PostBank ATMs,PostAgents and any points of sale and ATM network supporting UnionPay payment,when they travel and shop within Uganda and across the world.

As part of PostBank's on-going Digital Banking,Beyi Powa campaign,the bank will roll out a UnionPay PostCard specific marketing campaign to raise awareness about the new card and its importance to customers.

Speaking at the launch,the Chief Guest,Mr. Emmanuel Mutebile-Tumusiime,the Governor Bank represented by the deputy governor Dr. Micheal Atingi-Ego of Uganda commended PostBank for partnering with UnionPay international to introduce a new and affordable payment card for the market,in addition to launching Digital Banking,Beyi Powa. "I encourage the bank to continuously innovate digital banking solutions that ease the lives and livelihoods of customers especially in unprecedented times like COVID-19 and beyond," Dr. Atingi-Ego noted. He also pledged Bank of Uganda's support towards a more robust banking industry and stable economy.

About PostBank Uganda

PostBank Uganda (PBU) is a public company limited by shares and formed under the Public Enterprises Reform and Divestiture Statute of 1983 and the Uganda Communications Act,1997. It was incorporated under the Companies Act in 1998 and is owned by the Government of Uganda with 100% shareholding.

About UnionPay International

UnionPay International offers high quality of cross-border payment services,competitive and secured services to cardholders worldwide,and ensures convenient and swift local services to an increasing number of merchants and customers of UnionPay cards.

Today,with over 8.4 billion cards issued in 61 countries and regions,UnionPay serves the world's largest cardholder base. In Africa,UnionPay is present in 50 countries with cards issued locally in 11 countries. Moreover,UnionPay has launched various innovative payment products in Africa in response to the worldwide digital transformation and financial inclusion.