Banking

MCB, first acquiring bank of UnionPay cards in Mauritius

12 Apr 2018

Eight UnionPay International representatives, including Ms. Wu Yi - Vice President and Board Secretary of UPI, made a courtesy visit to the management members of MCB on Wednesday 11th April 2018. As the first acquiring bank of UnionPay cards in Mauritius, MCB welcomed favourably this meeting which aimed at engaging discussions on the future collaboration between both institutions.


A window on Asia
The UnionPay card is a major means of payment offering many opportunities in the Asian region. It is accepted at 51 million merchants and in 2.57 million ATMs in 168 countries and regions.

The MCB UnionPay prepaid card is both available in Renminbi and US dollars. It is easily refillable at any MCB branch, via Internet Banking, or by JuiceByMCB. It is very convenient for students, businessmen and travellers visiting Asia because it is easily accepted in this region of the world.

Since its launch in 2013, which was a first in Africa, the MCB UnionPay card is widely used by Mauritians who choose convenience over cash. From 2014 to 2017, the amount this prepaid card in Mauritius increased by 146 %. The average amount spent in 2017 by the Mauritian MCB UnionPay card holders reaches Rs.7, 500 on Point of Sales (POS) and just as much on ATMs during their stay abroad.
 
A long-lasting collaboration
MCB and UnionPay officially launched their partnership in 2010. The agreement between the two institutions then marked the acceptance of UnionPay cards in Mauritius. Over and above this, UnionPay has access to other countries where MCB is present, i.e. Seychelles and Maldives. In 2015, MCB was awarded "Best UPI bank of the island".

Alain Law Min, CEO-MCB Ltd: "MCB is happy with the long-lasting collaboration with UnionPay International. We value this partnership which we want to develop even further. With an increasing number of Mauritians travelling to Asia and, on the other side, Chinese tourists and businessmen coming to our country, there are growing opportunities for business. Today’s visit marks an important step in the consolidation of the business relationship between our two financial institutions, with the backdrop of the African market".

Picture: Mr Alain Law Min, CEO - MCB Ltd, and Ms. Wu Yi, Vice President and Board Secretary - UPI.

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