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The United Bank for Africa (UBA) has launched a new product. In collaboration with Mastercard, they introduced a crucial Mastercard prepaid card.
This card aims to accelerate financial inclusion across Africa. It expands access to digital payment solutions for millions. This strategic move targets those historically excluded from traditional banking.
The new Mastercard prepaid does not require a bank account. It is designed for young adults, freelancers, and low-income earners. Users can top up funds easily.
They can also transact both locally and internationally. The Mastercard prepaid card offers flexibility and security.
An estimated 28.9 million adults in Nigeria remain unbanked. Meanwhile, young people and freelancers demand digital tools.
This new Mastercard prepaid card directly addresses these pressing needs. It bridges a significant gap in the financial ecosystem. The card serves as a secure, reloadable allowance. This empowers the unbanked.
Enhancing Financial Access with the Mastercard Prepaid Card
This collaboration is a clear demonstration of UBA’s customer-first approach. Group Head, Retail & Digital Banking, Shamsideen Fashola, stated this fact.
He noted the bank’s commitment to ensuring every Nigerian is banked. The goal is to provide the best service. The card will make payments simpler, safer, and more accessible.
“This collaboration with Mastercard is a clear demonstration of our customer-first approach. We are committed to ensuring that every Nigerian is banked and gets the best service.
This card will make payments simpler, safer, and accessible to all,” Fashola stated.
Mastercard’s Country Manager, West Africa, Dr. Folasade Femi-Lawal, echoed this sentiment. She highlighted Mastercard’s commitment to financial inclusion.
The collaboration with UBA unlocks endless possibilities. It connects individuals across all demographics.
“At Mastercard, we are relentlessly committed to advancing financial inclusion through secure digital payment solutions.
“Collaborating with UBA allows us to unlock possibilities by connecting individuals across income levels and demographics. Together, we are empowering Nigerians to participate in the global economy and shape a more inclusive digital future,” Femi-Lawal said.
The Mastercard prepaid card offers several distinct benefits. It is a convenient budgeting tool for many. Freelancers and gig workers gain a flexible expense solution.
The card is globally accepted and is supported by Mastercard’s trusted infrastructure. This provides users with peace of mind. It ensures a seamless digital payment experience.
This strategic partnership paves the way for a more inclusive and sustainable financial future in Africa. It aims to break down long-standing barriers.
The Mastercard card enables underserved communities. Ultimately, it advances economic growth.
To get started, interested users can visit any UBA branch.
They should bring a valid ID and a utility bill. Further details can be found on UBA’s official website.
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