United Bank of Africa, UBA and electronic payment card company, Mastercard has signed a deal that will see the lender issuing Mastercard credit, debit and prepaid cards across 19 markets in Africa.
Both parties are partnering across the 19 African countries in which UBA currently operates: Nigeria, Benin, Burkina Faso, Cameroon, Chad, Cote D’Ivoire, Democratic Republic of Congo, Equatorial Guinea, Ghana, Gabon, Guinea, Guinea-Bissau, Kenya, Liberia, Mozambique, Republic of Congo, Senegal, Sierra Leone, Tanzania, Uganda and Zambia.
The partnership will also focus on increased payments infrastructure across Africa, including the roll out of point-of-sale and mobile-point-of-sale technology, to ensure merchants are able to accept the cards when introduced into these markets, Guardian reports.
Group managing director-Designate of UBA, Kennedy Uzoka, said: “As the needs of our customers change, we are adapting through strategic innovations and partnerships to provide them with excellent and convenient services. Through these strategic partnerships, we are able to accelerate the drive for financial inclusion and economic wellbeing across the African continent.”
Speaking on the partnership, Daniel Monehin, division president for Sub-Saharan Africa, Mastercard, said; “This focus on infrastructure and the roll out of easy-to-access solutions is a key part of driving financial inclusion and a move away from cash in these markets. MasterCard’s continued innovation in the payments space coupled with UBA’s extensive pan-African network will mean the introduction of increased competition and a stronger financial sector in these regions.”
Monehin added that collaborating with UBA has allowed for maximum impact when it comes to changing lives and introducing smarter ways for people to pay in Africa.
