UnionPay International Joins Casablanca Finance City to Enhance African Market Presence
UnionPay International (UPI) has officially achieved the prestigious Casablanca Finance City (CFC) status, a significant regulatory designation aimed at fostering business development within Africa. This recognition places UPI among a select group of multinational corporations that enjoy a tailored legal, fiscal, and regulatory environment designed specifically for enhancing regional integration. The CFC serves as a strategic conduit for financial services and innovation across the continent, allowing UPI to tap into the burgeoning African market more effectively.
Mr. Feng Chen, General Manager of UnionPay International Africa Branch, expressed pride in this milestone achievement, highlighting its importance as a stepping stone in their expansion strategy across Africa. He stated, "This recognition strengthens our position as a trusted partner in advancing financial infrastructure and enhancing cross-border connectivity. Being part of the CFC ecosystem not only reinforces our commitment to the African market but also enables us to operate more efficiently, supporting greater access to innovative payment solutions for businesses and consumers alike." This strategic move is set to accelerate UPI's growth plans by leveraging the advantages that come with CFC status, which include fiscal benefits and local regulatory support.
With a robust partnership network spanning over 2,600 institutions worldwide, UnionPay International has successfully established card acceptance in 183 countries and regions, while issuing cards in 85 countries. Outside of mainland China, UnionPay is now accepted at more than 80 million merchants and boasts a presence in 1.8 million ATMs globally. This vast network allows UPI to deliver high-quality, cost-effective, and secure cross-border payment services to the world’s largest cardholder base, ensuring convenient access to local services for an increasing number of UnionPay cardholders.
As reported by northafricapost.com.
