UBA Confirms Card Market Dominance of Card Market with MasterCard

United Bank for Africa (UBA) Plc, Africa’s financial powerhouse has introduced UBA MasterCard for banking convenience of its customers across the globe, underpinning its dominance of the electronic card segment of Nigeria’s financial industry.

With the UBA MasterCard customers of the bank can now carry out their electronic financial transactions, through the Automated Teller Machines (ATMs), Point of Sales (PoS)  and on the Internet, anywhere in the world, in a seamless manner even as they benefit from the bank’s range of cost saving e-banking products and services.

Adedeji Olowe, Head Cards, UBA Plc, said that said MasterCard is partnering with UBA to accept and issue payment cards across 19 African countries.
 
According to him, “UBA is offering customers world-class products to roam their Money in Naira and 3 other currencies, Dollar, Pounds and Euro. UBA represents the biggest potential for MasterCard in Nigeria today and across Africa .”
 
MasterCard is the second largest financial network in the world and is accepted in 210 countries, over one million ATMs and 32 million merchant locations. MasterCard has witnessed massive growth in Nigeria in the last 5 years
 
Part of the benefits to Cardholders, according to Olowe is that the usage of UBA MasterCard in other currencies will have no annual spend limit adding that UBA has concluded plans to provide full bouquet of payment cards across debit, prepaid and corporate cards. These Cards, he maintained, will also come in premium levels such as Gold, Platinum and World.
 
“Mastercard is delighted to partner with one of the leading bank on the continent on the deployment of MasterCard to 19 countries on the continent,” Daniel Monehin, Division President, Sub-Sahara Africa, MasterCard Worldwide said. “Our partnership with UBA had come a long way, and the financial institution has an entrenched card based products and channels, millions of customers on the continent would benefit from,” Monehin added.
 
United Bank for Africa (UBA) is a leading Pan African Bank with presence in 19 African countries, New York , London and Paris . Headquartered in Lagos , Nigeria ; UBA provides broad-based banking services to over seven (7) million customers across Africa .