In the morning of Nov. 30, China UnionPay President Shi Wenchao visited Central Bank of Albania in Tirana and met with the First Deputy Governor of the Bank, Elisabeta Gjoni. The two discussed on promoting digital payments in the country and reached cooperation intention.

As an important market in the Balkan region, the bankcard industry of Albania has great potential. At the meeting, Elisabeta Gjoni introduced about the Central Bank’s plan in promoting the development of the local bankcard industry and building relevant regulation frameworks, while offering guidance and advices to UnionPay’s business in Albania. The Central Bank is willing to help UnionPay to reach collaboration with the local commercial banks and acquirers, and to promote the cooperation projects.

Shi Wenchao expressed his gratitude for the Central Bank. He introduced the progress UnionPay made over the past few years and shared UnionPay’s progress in as well as plan for global expansion. He said UnionPay is willing to apply its experience in popularizing non-cash payments and developing products and services in Albania, in order to support the development of the local mobile payments. The Central Bank is very interested in UnionPay’s proposal, and hopes to carry out collaboration with UnionPay, so as to learn from China’s experience to promote digital payments in the country.

After meeting with the Central Bank, Shi Wenchao met with senior management of PayLink, Union Bank and BKT. PayLink is a payment card processor and developer with the authorization of Albania’s Central Bank. Union Bank is a large private bank in Albania, offering extensive retail and commercial products and services to its local clients. BKT is the largest local acquirer. The three institutions all wished to reach cooperation with UnionPay, so as to promote the development of the local payments industry by leveraging UnionPay’s brand influence and experience in promoting non-cash payments. The institutions will also support UnionPay to reach extensive acceptance in the country. Next, UnionPay and the local institutions will jointly promote the landing of cooperation projects, build the local switch network, promote payment innovations, and to realize the acceptance and issuance of UnionPay cards in Albania.