Kenyan-based regional financial institution Equity¹ Bank plans to boost presence of WeChat Pay and Alipay in Africa, a banker said on Monday.

 

肯尼亚区域性金融机构公平银行计划扩大微信支付和支付宝在非洲的业务范围。

 

Jack² Ngare, managing director of Finserve Africa, a wholly-owned subsidiary of Equity Bank, told Xinhua in Nairobi that they have already made the Chinese financial technology service available in Kenya, Uganda, Tanzania and Rwanda.

 

"We are currently at advanced stages of rolling out WeChat Pay and Alipay to merchants in the Democratic Republic of Congo (DRC) by the end of the year and thereafter to additional Africa markets," said Ngare.

 

Equity Bank has subsidiaries in Kenya, Uganda, Tanzania, Rwanda, South Sudan and DRC.

 

Ngare said that its payment gateway³ service will allow merchants in east and central Africa to accept payments from users of WeChat and Alipay.

 

He added that the aim of the fintech service is to boost foreign exchange inflows into Africa.

 

"We are also planning to leverage⁴ on the growing Sino-Africa trade and make bilateral⁵ trade to become more digital-based and reduce need to carry cash," he revealed.

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