MasterCard and United Bank for Africa unveiled on Tuesday the UBA “All About U” personalized debit card in Nigeria as part of an effort to encourage the growth of cashless payments.
The card is customizable, blending UBA’s brand with the customers’ design preferences.
“Nigeria is steadily embracing a cashless society and MasterCard is fully committed to creating avenues through which consumers are reminded of the value and benefits of electronic payments such as safety and convenience,” Omokehinde Ojomuyide, the vice president and area business head for MasterCard in West Africa, said. “The UBA ‘All About U’ card signals the arrival of payment options and platforms that incorporate the preferences of consumers across different segments and we are pleased to partner with UBA to make this a reality.”
Adedeji Olowe, the head of cards at UBA, said the bank partnered with MasterCard to employ its security and customized debit card solutions to transform the bank’s e-payment transaction business.
“We know that one size does not fit all, so we constantly innovate to help customers choose services that meet their unique needs. This platform enables customers to design their cards in the comfort of their homes and later collect MasterCard secured code at their UBA branch. This code is verified before any transaction is completed”.
Nigeria’s central bank estimates that approximately 40 percent of the adult population in Nigeria is unbanked. MasterCard has partnered with governments, financial institutions, merchants and businesses to develop and implement market-driven payment solutions.