United Bank for Africa (UBA) Plc has teamed up with Mastercard to introduce a new prepaid card aimed at deepening financial inclusion and widening access to digital payments across Africa.
The card, unveiled recently, targets individuals without traditional bank accounts, including young adults, gig workers, and low-income earners who often face barriers to formal financial services. Users can load funds, make local and international transactions, and manage spending with flexibility and security.
Nigeria still faces a significant financial access gap, with over 28.9 million adults remaining unbanked. Analysts note that rising demand for digital-first financial tools among freelancers and youth makes this prepaid card a timely innovation.
Shamsideen Fashola, UBA’s Group Head of Retail & Digital Banking, emphasized that the partnership with Mastercard reflects the bank’s commitment to a customer-first approach. “We are dedicated to providing practical solutions that meet the everyday needs of Nigerians. This card will make payments simpler, safer, and accessible to everyone,” he said.
Dr. Folasade Femi-Lawal, Mastercard’s Country Manager for West Africa, highlighted the transformative potential of the collaboration. “At Mastercard, we are committed to advancing financial inclusion through innovative and secure digital payment solutions. Working with UBA allows us to connect individuals across all income levels and demographics, empowering Nigerians to participate confidently in the global economy and shape a more inclusive digital future.”
The prepaid card caters to a variety of users. It serves as a budgeting tool, a flexible payment solution for freelancers and gig workers, and a secure, reloadable card for the unbanked. Backed by Mastercard’s global infrastructure, it ensures seamless digital transactions and peace of mind for all cardholders.
This partnership represents a step toward a more inclusive and sustainable financial landscape in Africa, breaking down barriers, supporting underserved communities, and fostering economic growth.
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