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A subsidiary of Chams Holding PLC, ChamsSwitch Limited, has entered into a strategic partnership agreement with Wema Bank PLC to issue Alat UnionPay cards for enhanced cross-border payment system.
By this partnership, ChamsSwitch, a leading fintech company and Wema Bank, will leverage UnionPay’s extensive global network and innovative payment solutions to provide seamless and secure card services to Nigerian customers.
Kernel of the Story
– UnionPay, known for its robust international payment standards, has issued over 180 million cards in 75 countries, making it a leader in card issuance and transaction volume worldwide.
– This partnership aligns with the strategic goals of both organizations to enhance financial services and drive digital innovation in Nigeria.
– ChamsSwitch Managing Director, Dumebi Obodo, says the launch of Alat UnionPay is a proud moment for all stakeholders
What Obodo says
” The launch was indeed a proud moment for him and the entire ChamsSwitch stakeholders.. The Company prides itself on its history of creating innovative solutions for the enhancement of digital financial services, saying: what better bank to partner with on this journey than one with a shared vision.
Comments of Mabawonku
Wema Bank’s Executive Director, Digital Bank, Tunde Mabawonku, said : ” The Alat UnionPay, as an initiative was more than just a product, but reinforces the bank’s commitment to excellent service delivery.”
Comments of Adeniyi
Responding to a question from the audience, the Chief Digital Officer, Wema Bank PLC, Olusegun Adeniyi, explained that: ” Alat UnionPay, was denominated in domiciliary accounts and could be issued to personal and corporate account holders alike.”
Comments of Botes
UnionPay International Senior Business Development Manager, Africa, Herman Botes, says : ” Considering the humongous trade volumes between Nigeria and China, this partnership was long overdue. He expressed confidence that with the calibre of partners that UnionPay was working with on this project, users would be rest assured of a delightful experience.”
More facts about the collaboration
– It marks a significant milestone in advancing financial digitalization and enhancing the e-payment ecosystem in Nigeria.
– The partnership is poised to deliver a comprehensive and efficient payment solution in Nigeria and thereby contribute to the country’s economic development and financial inclusion objectives.
Significant Role of ChamsSwitch
– ChamsSwitch leverages its local expertise, payment infrastructure, and processing capabilities to facilitate the integration and deployment of UnionPay’s payment solutions in Nigeria.
– These will enhance the overall payment experience for Nigerian consumers and businesses.
More facts about UnionPay
-UnionPay is a global payment network and financial services corporation headquartered in Shanghai, China.
-It is the largest card payment organization in the world, based on the total value of transactions processed.
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