NMB Bank and UnionPay International (UPI) have partnered to introduce the first UnionPay QR code in the country to boost digital economy and cashless society.
NMB’s Chief of Retail Banking, Mr Filbert Mponzi said the partnership with UPI means a lot in their aspiration to modernise and promote digital payments in the country.
“NMB Bank has played a key role and continues to be instrumental in supporting the modernisation of the payment solutions in the country,” Mr Mponzi said when unveiling of the third UnionPay QR code in East Africa on Tuesday.
The General Manager of UPI Africa Branch, Mr Asad Burney, said apart from advancing inclusive finance, the partnership also increases the footprint of UnionPay cards acceptance on NMB’s digital payments platforms.
“I challenged traders to leverage on this opportunity to enhance and simplify their business and payments operations,” he pointed out.
The first partnership between NMB and UPI came into being in 2020 leading to ATMs and POS of the lender to accept payment cards of the subsidiary of China UnionPay, which has card acceptance in 180 countries and regions globally.
Mr Mponzi said the new deal, which offers customers an unparalleled payment experience enables UPI account holders worldwide to conveniently and securely pay through their mobile phones or by simply scanning at over 147,324 NMB merchant locations in Tanzania.
NMB becomes the first bank to accept UPI QR code payment in the country and the third bank in East Africa. The NMB has 147,324 merchant locations country wide.
The launching ceremony was graced by the Permanent Secretary in the Ministry of Foreign Affairs and East African Cooperation, Ambassador Samuel Shelukindo.
He said the launch of the NMB UnionPay QR Code payment solution was another step towards realisation of the dream to modernise and make the country a cashless economy.
Tanzania Tourism Board Managing Director Mr Damas Mfugale said the service increases the country’s competitiveness in the lucrative Chinese tourism market.