Mastercard, UBA partner on card payments infrastructure

July 19, 2016 12:23 pm7 commentsViews: 31

Mastercard and UBALAGOS, (CAJ News) – UNITED Bank Africa (UBA) and Mastercard have announced a partnership to enhance increased payments infrastructure across the continent.

The partnership that culminates in Nigeria-based UBA act as the issuer for MasterCard in 18 new markets in Africa includes 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.

Mastercard and UBA are partnering across the 19 African countries in which UBA currently operates including Nigeria.

Other countries are Benin, Burkina Faso, Cameroon, Chad, Democratic Republic of Congo, Equatorial Guinea, Ghana, Gabon, Guinea, Guinea-Bissau, Ivory Coast, Kenya, Liberia, Mozambique, Republic of Congo, Senegal, Sierra Leone, Tanzania, Uganda and Zambia.

“Kennedy Uzoka, Group Managing Director-Designate, UBA, said as the needs  of customers changed, they were 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,” said Uzoka.

Division President for Sub-Saharan Africa, Mastercard, Daniel Monehin, said the focus on infrastructure and the roll out of easy-to-access solutions was 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,” said Monehin.

Mastercard set a goal to connect 40 million micro and small merchants to its electronic payments network within five years.

From a single country operation in Nigeria, Africa’s largest economy, UBA has evolved into a pan-African provider of banking and related financial services to more than 11 million customers, through diverse channels globally.

CAJ News

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