Kamsiyochukwu MbamaluUnited Bank for Africa (UBA) and Mastercard have joined forces to launch a groundbreaking prepaid card designed to accelerate financial inclusion and expand access to digital payment solutions across Africa. This innovative product is set to bridge the financial gap for millions of unbanked individuals, particularly young adults, gig workers, and low-income earners.
Key Benefits:
Join our WhatsApp Channel- No traditional bank account required: The card is designed to serve individuals who lack access to formal financial services.
- Easy top-up and transactions: Users can top up funds easily and transact both locally and internationally.
- Flexible and secure: The card enables users to manage spending with flexibility and security.
- Global acceptance: The prepaid card is globally accepted and supported by Mastercard’s trusted infrastructure.
Target Audience:
- Unbanked individuals: With over 28.9 million adults in Nigeria remaining unbanked, this card provides a secure and reloadable allowance card.
- Gig workers and freelancers: The card offers a flexible expense solution for gig workers and freelancers.
- Young adults: The card serves as a convenient budgeting tool for young adults.
“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,” said Shamsideen Fashola, Group Head, Retail & Digital Banking, UBA.
“At Mastercard, we are relentlessly committed to advancing financial inclusion through innovative and secure digital payment solutions,” said Dr. Folasade Femi-Lawal, Mastercard’s Country Manager, West Africa.
Prime Business Africa reports that the partnership would pave the way for a more inclusive and sustainable financial future in Africa, breaking down long-standing barriers and enabling underserved communities to participate in the global economy.
