Cim Finance partners with UnionPay International
Cim Finance has launched the Cim UnionPay Classic, Gold and Business Credit Cards, thus becoming the first to issue UnionPay Credit Cards in Africa. The aim of this new development is to enable Mauritian tourists to explore and enjoy China in a way that suits them best, and for Mauritian entrepreneurs to have improved financial access into the fastest growing consumer market in the world. Paul Leech, Chief Executive Officer of Cim Group, and Larry Wang, Chief Business Development Officer of UnionPay International, unveiled the cards during a press conference at Le Labourdonnais Hotel, Port-Louis.
“The partnership between Cim Finance and UnionPay began in 2012 and today, we wish to build on this momentum on the issuing side by expanding the business further with a new offering. UnionPay cards have been the leading brand that the Chinese cardholders use abroad, be it in Hong Kong, Macau and Singapore, and Cim Finance now has access to the largest credit card network in the world. This partnership fits within our expansion and diversification objectives and we are indeed very proud to be associated with a brand of this calibre,” said Paul Leech, Chief Executive Officer of Cim Group.
The launch of the Cim UnionPay Classic, Cim UnionPay Gold and Cim UnionPay Business Credit Cards comes at an opportune time with the growing number of UnionPay cardholders travelling between China and Mauritius, and also provides a convenient tool for frequent travellers to Asia.
This collaboration will strengthen Mauritius as a business hub and essential link for Sino-African economic and trade communications, with more and more people and enterprises visiting Africa, paying and making settlements with UnionPay cards issued in the island. At present, UnionPay cards are acceptable in over 40 countries and regions of Africa, especially in South Africa, Mauritius, Nigeria, Kenya and North Africa.
Larry Wang, Chief Business Development Officer of UnionPay International, also expressed his satisfaction after the launch of the three credit cards. “The collaboration between Cim Finance and UPI has been steadily growing from strength to strength, from the launch of acquiring program last year to the launch of UnionPay cards today. I believe this partnership will be further enhanced and bring tangible benefits to both organizations and ultimately, our cardholders,” explained the UnionPay official.
The three new credit cards come with multiple advantages, such as no annual fee for the first year, up to 45 days interest-free credit and secure payments with Chip and Pin technology. Moreover, the Gold and Business cards come with free travel and purchase protection insurance. UnionPay has more than 4.3 billion cards in circulation and is accepted by over 140 countries and regions. China is one of Mauritius’ biggest trading partners and is a source of development funds, and there has been a steady increase over the years of business relations between our two countries. Moreover, the number of Chinese tourists in the island has also increased exponentially over the years, reaching 42,000 arrivals in 2013. This growth is set to continue, as shown by the 93.4% increase of arrivals during the first quarter of 2014, in the wake of the opening of the new air link weekly between Shenzhen City and Sir Seewoosagur Ramgoolam airport.