Marrakech – UnionPay International (UPI) announced in a press release on Tuesday that its Morocco branch has officially obtained Casablanca Finance City (CFC) status. The move situates Morocco as the Chinese payment giant’s regional base for financial services across the African continent.
The CFC designation grants UPI access to a specialized legal, fiscal, and regulatory framework designed for multinational institutions operating across Africa. The qualification is now effective, with an official communication from the CFC Authority expected shortly.
“This strategic milestone marks a significant step in UnionPay’s commitment to positioning Morocco as its regional gateway for financial services and innovation across the African continent,” the company said in the press release.
Feng Chen, General Manager of UnionPay International Africa Branch, said the CFC status allows the company to operate more efficiently.
“This recognition strengthens our position as a trusted partner in advancing financial infrastructure and enhancing cross-border connectivity,” he stated.
“Being part of the CFC ecosystem not only reinforces our commitment to the African market but also enables us to operate more efficiently, supporting greater access to innovative payment solutions for businesses and consumers alike.”
The company described the CFC status as “a catalyst for UPI’s expansion strategy, allowing the Africa Branch to operate with greater agility.” By leveraging fiscal benefits and local regulatory support, UPI affirmed it is better positioned to serve its partners and cardholders.
“This reinforcement of UPI’s presence in Morocco underscores its dedication to building a safe, convenient, and efficient payment environment throughout Africa,” the press release added.
The announcement comes as Casablanca continues to consolidate its standing as Africa’s leading financial center. In March, the city ranked 49th in the Global Financial Centres Index, placing it as the top financial hub in Africa ahead of Johannesburg.
UPI partners with more than 2,600 institutions worldwide. Its cards are accepted in 183 countries and regions, with issuance in 85 markets. Outside mainland China, UnionPay is accepted at over 80 million merchants and 1.8 million ATMs.
On the mobile payment front, UnionPay’s services – including mobile QuickPass and QR code payment – operate in more than 100 countries and regions. Outside mainland China, mobile QuickPass is accepted at over 25 million POS terminals.
The company has also pushed QR code interoperability with local payment networks across multiple markets, driving over 15 million acceptance points for UnionPay QR codes. Additionally, over 200 e-wallets in 37 countries outside mainland China accept UnionPay cards. The company accounts for roughly 36% of global card transactions.
In Africa, UPI maintains a presence in 51 countries and issues cards locally in 13, including Kenya, Uganda, Tanzania, Ghana, Rwanda, Congo Brazzaville, Congo Kinshasa, eSwatini, Mauritius, Seychelles, Madagascar, Zambia, and Nigeria.
The CFC status follows a memorandum of understanding signed in November 2025 between Casablanca Finance City and the Beijing Financial Street Service Bureau to connect Chinese investment with African markets. UPI’s new designation adds to that framework, reinforcing Morocco’s role as a bridge between Chinese financial players and the continent.
