🌴UnionPay🇨🇳 partners with BankservAfrica: positive banking growth dynamics are evident.

🌴UnionPay🇨🇳 partners with BankservAfrica: positive banking growth dynamics are evident.

It's been a while since we had any news about Africa... And here we have a reason. BankservAfrica is the largest automated clearing house on the continent, responsible for the clearing and processing of billions of small transactions with cards, ATMs, and account-to-account transfers.

➡️ Scope: e-commerce.

➡️ UnionPay operates in 50 countries on the African continent. The specific collaboration with BankservAfrica began in December 2023, when UP International started internal processing for a bank in South Africa🇿🇦.

➡️ Context: an excellent, detailed review of the South African banking sector this year.

- The major players are the traditional banks such as Absa, FirstRand, Standard Bank, Nedbank, Investec and Capite.
- Among the digital banks, Bank Zero and TymeBank stand out.
- Among international players, the most significant are BNP Paribas, Development Bank of Southern Africa, and leasing companies — the financial divisions of Toyota and BMW.
- One of the key trends is the focus of banks on micro-enterprises and small businesses.
- Statista predicts that the percentage of citizens with bank accounts will increase by 8.7 percentage points from 2024 to 2029. By 2029, the penetration of bank accounts is expected to reach 96.62%.
#news #Africa #China

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