News

New B-Pesa card scheme backed by UnionPay ATM network

January 29, 2014

Smart Banking Solutions Ltd., a Tanzania-based provider of hardware and software solutions for FIs and telecoms, has introduced the first prepaid card in the Tanzanian market. The B-Pesa card allows a customer to transact at any B-PESA branded merchants, member banks or ATMs.

SBS managing director Gustav Vermaas said the B-Pesa card user gains flexibility of card-to-card transfers, cash withdrawal, cash deposits, billpay and payment of purchases at B-PESA branded merchants.

Providing the muscle behind B-Pesa is China UnionPay. Through a partnership with SBS, UnionPay will enable access to its network and ATMs.

SBS board member Dr. Edmund Mndolwa said the new payment system would create substantial benefit to Tanzanian traders. The China UnionPay partnership will offer them access to the network's international points worldwide, meaning that they will not need to look for foreign currency when buying goods abroad.

GRG Banking Equipment Co. Ltd. also plays a key role as a supplier of B-Pesa ATMs.

"As a global leading provider of currency recognition and cash processing solutions, GRGBanking attaches great importance to the B-Pesa project," said Adam Lee, GM of GRG Banking Equipment. "We believe our advanced cash dispensing solution can contribute to the development and innovation of [the] local banking industry."

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