Monday
July 25
2016

United Bank for Africa and MasterCard sign pan-African partnership

The United Bank for Africa (UBA) and MasterCard have signed a five year partnership agreement to issue MasterCard credit, debit and prepaid cards across 19 new markets in Africa, including Liberia.

Other countries are Nigeria; Benin; Burkina Faso; Cameroon; Chad; La Cote D’Ivoire; Democratic Republic of Congo; Equatorial Guinea; Ghana; Gabon; Guinea; Guinea-Bissau; Kenya; Mozambique; Republic of Congo; Senegal; Sierra Leone; and Uganda.

Commenting on the agreement, Kennedy Uzoka, UBA Group Managing Director designate, whose statement was contained in a release issued last evening, said the partnership came into effect in the second quarter of 2016, based on UBA acting as the issuer for MasterCard in countries where they are currently operating.

He said the deal will focus on increased payments infrastructure, including the roll out of point-of-sale and mobile-point-of-sale technology to ensure businesspeople are able to accept the cards when introduced into these markets.

“As the needs of our customers change, we 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 well-being across the African continent,” he said.

Source: Liberian Observer (link opens in a new window)

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banking, mobile banking, mobile money