JOHANNESBURG, July 5, 2021 /PRNewswire/ -- UnionPay International (UPI) and Mobile Merchant jointly announced the partnership in supporting small and micro enterprises (SMEs) in South Africa, contributing to post-pandemic economic revival.
According to McKinsey, SMEs across South Africa employ 50 to 60 % of the country's workforce across all sectors, and amounted a 39% share of national GDP. Aside from lockdowns and restrictions due to Covid-19, rapidly changing technology is putting pressure on SMEs to adapt and meet consumer demands.
With its 85% client base focusing on SMEs, Mobile Merchant is looking to open its entire merchant base to accept UnionPay cards, enabling SMEs to reach more customers leveraging UnionPay's vast cardholder base worldwide. Mobile Merchant provides fast customer-centric mobile terminal solutions that facilitate SMEs to open to business within 3 to 5 days from application approval to installation. The quicker SMEs can pivot and adapt during these ongoing turbulent times, the higher their fitness and success.
"We are so incredibly proud to be associated with UnionPay International. Our commitment to providing real business solutions to SMEs in South Africa has always been our main goal and shows in our track record across our merchant base," said Carrie Dickie, Managing Director of Mobile Merchant (Pty) Limited. "With this collaborative relationship we intend to ensure that we offer world class products and solutions to SMEs across South Africa."
"Today marks a fruitful collaboration between the two entities," said Mr. Luping Zhang, General Manager of UnionPay International Africa Branch. "We strongly appreciate Mobile Merchant's ongoing effort in driving technological innovation to support local businesses and the community. We encourage all UnionPay cardholders to support small businesses and help to revive the local economy".
With over 1.5 billion UnionPay cards issued in 69 countries and regions outside mainland China, UnionPay has expanded its acceptance network to 180 countries and regions in recent years. At present, UnionPay cards are widely accepted in Africa across all sectors, effectively meeting the diverse purchasing needs of UnionPay cardholders visiting and living on the continent. UnionPay cards are issued in over 10 African countries, including Kenya, Tanzania, Uganda, Ghana, South Africa, Madagascar and Mauritius. UnionPay has launched various innovative payment products in Africa in response to the worldwide digital transformation and financial inclusion.
SOURCE UnionPay International