November 24, 2022
  • November 24, 2022

SBS UnionPay Debit Card

By on June 16, 2021 0

MBABANE, eSwatini, June 16, 2021 / PRNewswire / – Swaziland Building Society (SBS) and UnionPay International (UPI) today jointly announced the issuance of UnionPay debit, platinum and diamond cards in the Kingdom of eSwatini, offering customers of all income groups a simple, secure and convenient payment live. These beginnings play an important role in eSwatini’s national financial inclusion strategy, contributing to economic growth, enhancing financial inclusion and creating a sustainable future.

According to UNCDF[1], financial inclusion is increasingly positioned as a catalyst for broader development goals. More and more countries Africa have included financial inclusion efforts in their national development plans, highlighting the continued relevance and importance in the region.

“Today marks a key milestone and a strong collaboration between SBS and UPI, the two organizations strongly believe that the initiative will boost financial inclusion and technological innovation to repaint the payments landscape in eSwatini”, joint statement by SBS and UPI.

The new SBS UnionPay cards allow customers to buy from any point of sale and transact online across the country, ensuring the security and contactless payment experience. Locally, the cards can also be used to withdraw cash at local ATMs, providing an inclusive payment environment for all customer needs.

A nationwide marketing campaign aimed at spreading awareness of new cards and diverse daily scenarios such as stores, restaurants, gas stations, clinics and more, enabling customers to pay efficiently and locally, will be launched soon.

With over 59 years of steady growth, the Swaziland Building Society continues to be an innovative financial services provider delivering customer-centric transactional digital financial services and continues to improve its ability to serve with a competitive advantage.

With over 1.5 billion UnionPay cards issued in 70 countries and regions around the world, UnionPay has expanded its acceptance network to 180 countries and regions in recent years. At present, UnionPay cards are widely accepted in Africa across industries, effectively meeting the diverse purchasing needs of UnionPay cardholders visiting and living on the continent. UnionPay cards are issued in more than 10 African countries, including Kenya, Tanzania, Uganda, Ghana, South Africa, Madagascar and Mauritius. The Nilson Report (Issue 1154) shows UnionPay to be the number one card system of all card systems in card issuance and transaction volume globally. UnionPay has launched various innovative payment products in Africa in response to global digital transformation and financial inclusion.

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SOURCE UnionPay International