RegionsAfricaUBA, MasterCard Partner for African e-payments

UBA, MasterCard Partner for African e-payments

MasterCard and United Bank for Africa (UBA) have completed a multi-country licensing project that will see the pan-African bank accept and issue MasterCard prepaid, debit and credit cards in 14 countries across sub-Saharan Africa.

Through the partnership, 14 of UBA’s 19 subsidiaries in the region will gain access to MasterCard payment solutions and electronic payments (e-payments). MasterCard will leverage UBA’s fast growing footprint to enhance the adoption of cashless payments in a wider geographical region across Africa.

UBA is now licensed to accept and issue MasterCard products in Cameroon, Chad, Democratic Republic of Congo, Gabon, Ghana, Guinea (Conakry), Kenya, Liberia, Mozambique, Republic of Congo (Brazzaville), Sierra Leone, Tanzania, Uganda and Zambia. Prior to the completion of the deal, United Bank for Africa was licensed to issue MasterCard payment products in Nigeria.

“This collaboration is a reflection of our vision, which is to be Africa’s bank of choice for the provision of innovative financial products and services,” said deputy managing director and chief executive (CEO), UBA Africa, Kennedy Uzoka.

“We understand the significance of partnerships, and what we have with a global player such as MasterCard, is an integral part of achieving our vision for Africa.”

The growth of Africa’s payments industry follows a combination of public and private investments in innovative solutions that will see the extension of financial inclusion to the unbanked and under-banked.

Related Articles

Fintech disruption sees digitisation take centre stage in African banking strategy

Africa Fintech disruption sees digitisation take centre stage in African banking strategy

10m GTNews
South Africa’s economic recovery ‘could be a long haul’

Africa South Africa’s economic recovery ‘could be a long haul’

11m Graham Buck
Nigerian Stock Exchange adopts Nasdaq technology

Africa Nigerian Stock Exchange adopts Nasdaq technology

1y GTNews
Emerging markets: positives and pitfalls

Africa Emerging markets: positives and pitfalls

1y Graham Buck
The African currency rollercoaster ride

Africa The African currency rollercoaster ride

1y Theresa Henshaw
Leadership changes pose geopolitical risk, says Marsh

Africa Leadership changes pose geopolitical risk, says Marsh

1y Graham Buck
Survey finds leadership failings on business ethics

Africa Survey finds leadership failings on business ethics

1y Graham Buck
S&P downgrades South Africa’s credit rating to junk status

Africa S&P downgrades South Africa’s credit rating to junk status

1y Graham Buck