Mauritius Commercial Bank (MCB) proudly commemorates its 15-year partnership with UnionPay, a collaboration that has significantly influenced the financial landscape in Mauritius and beyond. UnionPay International, a subsidiary of China UnionPay, is the world’s largest card payment brand in terms of transaction volume, with card acceptance in 181 countries and regions and card issuance in 79 countries and regions. In Africa, UnionPay is present in 50 countries and locally issued in 15 countries. UnionPay has introduced various innovative payment products in Africa in response to global digital transformation and financial inclusion.
In this context, MCB leaders welcomed a delegation from UnionPay, led by Mr. Shao Fujun, Chairman of China UnionPay, in Port-Louis on Thursday morning.
Foundation Laid
In 2008, UnionPay approached the Bank of Mauritius, laying the foundation for UnionPay network acceptance in Mauritius. Recognizing the immense potential of this network, MCB became the first bank in the Indian Ocean to integrate the UnionPay network, anticipating the growth of tourism in Mauritius.
71% Growth Until November 2023
Today, MCB takes pride in seamlessly incorporating UnionPay into all its ATMs and point-of-sale systems. In 2017, the bank expanded its acceptance scope to include e-commerce transactions, enhancing convenience for customers. The remarkable growth of UnionPay acceptance within MCB’s network, with a 71% increase until November 2023, reflects the success of the collaboration between MCB and UnionPay.
Optimistic Vision
As the country’s leading acquirer bank, MCB remains committed to supporting UPI’s growth in Mauritius. MCB Ltd CEO, Alain Law Min, is optimistic about the future, citing the imminent resumption of international travel from China to Mauritius and the potential for further growth. Furthermore, both companies share common goals in Africa and the sub-Saharan region, with MCB having a strong presence in Seychelles, Madagascar, and the Maldives. Highlighting MCB’s growing recognition in Africa and its acknowledgement by international financial institutions, the CEO encouraged leveraging the common goals of both institutions to deepen collaboration in the region.
Alain Law Min: “We are grateful to UnionPay for 15 years of fruitful collaboration and a strong partnership. The bank looks forward to exploring new avenues of cooperation and innovation that will benefit both companies and contribute to the growth and prosperity of Mauritius. As the country’s leading acquirer bank, MCB remains committed to supporting the continued growth of UnionPay International in Mauritius. Our commitment to providing innovative payment solutions and enhanced banking experiences for 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 foster mutual success.”
Asad Burney, Head of UnionPay International’s African branch: “Collaborating with MCB Mauritius marks a key moment in our 15-year journey to reshape the future of digital payments in the Indian Ocean. Together, we are working towards a strategic alliance based on ambition and commitment to digitalization, for a better financial future. By joining forces, we aim to create digital payment solutions that will contribute to a self-reliant and financially inclusive region.
