Africa’s Global Bank, United Bank for Africa (UBA) Plc, in partnership with Mastercard, has unveiled the Mastercard prepaid card to aid financial inclusion and expand access to digital payment solutions across the continent.
The card, which does not have to be linked to a regular bank account, will help users who lack access to formal financial services, especially youths and low-income earners.
The UBA Mastercard prepaid card enables individuals to top up funds seamlessly, transact both locally and internationally, and manage expenses in a flexible and secure manner.
With over 28.9 million adults in Nigeria still unbanked, and with digital-first tools in increasing demand among young Nigerians and freelancers, the card directly tackles serious issues in the financial sector.
Speaking during the launch at the Bank’s headquarters in Lagos, Group Head, Retail & Digital Banking, United Bank for Africa, Shamsideen Fashola, said that the latest development emphasizes UBA’s customer-first approach.
According to him, the demonstration proves that the bank is committed to ensuring that every Nigerian is banked and gets the best service.
“This collaboration with Mastercard is yet another demonstration of our customer-first approach.
We are committed to providing practical solutions that meet the everyday needs of Nigerians, and this card will make payments simpler, safer, and accessible to all,” he said.
Mastercard’s Country Manager, West Africa, Dr Folasade Femi-Lawal, stressed that the financial institution will keep working tirelessly to advance financial inclusion via safe digital payment solutions.
Folasade concluded by saying that the partnership with UBA will help Mastercard to connect Nigerians across all income levels and demographics.
“At Mastercard, we are relentlessly committed to advancing financial inclusion through innovative and secure digital payment solutions that serve both banked and unbanked Nigerians.
Collaborating with UBA enables us to unlock endless possibilities by connecting individuals across all income levels, demographics, and social strata.
Together, we are empowering Nigerians with the tools they need to confidently participate in the global economy and shape a more inclusive digital future,” he added.
