A subsidiary of Chams Holding PLC, ChamsSwitch Limited, has entered into a strategic partnership with Wema Bank PLC to issue UnionPay cards for enhanced payment system.
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.
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.
Speaking at the launch event, Tunde Mabawonku, Wema Bank’s Executive Director, Digital Bank, expressed optimism, that the Alat UnionPay as an initiative was more than just a product, but reinforces the bank’s commitment to excellent service delivery.
Responding to a question from the audience, Chief Digital Officer, Wema Bank PLC, Olusegun Adeniyi, explained that Alat UnionPay was a denominated domiciliary accounts and could be issued to personal and corporate account holders alike.
In his welcome address, Dumebi Obodo, the Managing Director, ChamsSwitch Limited, Dumebi Obodo, in stated that the launch was indeed a proud moment for him the entire ChamsSwitch stakeholders.
According to him, the company prides itself on its history of creating innovative solutions for enhancement of digital financial services, saying: what better bank to partner with on this journey than one with a shared vision.
In his contribution, UnionPay International Senior Business Development Manager, Africa, Herman Botes, noted that considering the humongous trade volumes between Nigeria and China, this partnership was long overdue, and he expressed confidence that with the calibre of partners, UnionPay was working with on this project, users would be rest assured of a delightful experience.
This collaboration, 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, contributing to the country's economic development and financial inclusion objectives.
ChamsSwitch plays a pivotal role in the partnership by leveraging its local expertise, payment infrastructure, and processing capabilities to facilitate the integration and deployment of UnionPay's payment solutions in Nigeria, thereby enhancing the overall payment experience for Nigerian consumers and businesses.
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.
