By 
United Bank for Africa (UBA) Plc, in partnership with Mastercard, has unveiled a new prepaid card designed to expand digital payment access and accelerate financial inclusion across Africa.
The card, which does not require a traditional bank account, is tailored for individuals historically excluded from formal financial services—particularly low-income earners, gig workers, and young adults. It allows users to easily load funds, make secure transactions locally and internationally, and manage their expenses with greater flexibility.
According to UBA, the innovation directly addresses gaps in Nigeria’s financial ecosystem, where more than 28.9 million adults remain unbanked despite rising demand for digital-first solutions among youth and freelancers.
Shamsideen Fashola, Group Head of Retail & Digital Banking at UBA, said the initiative reflects the bank’s customer-centric focus. “This collaboration with Mastercard demonstrates our commitment to practical solutions that make payments simpler, safer, and accessible to all Nigerians,” he noted.
Dr. Folasade Femi-Lawal, Mastercard’s Country Manager for West Africa, emphasized the partnership’s role in advancing inclusion. “By working with UBA, we are connecting individuals across income levels and empowering them to confidently participate in the digital economy,” she said.
The prepaid card will serve multiple use cases—from budgeting for everyday consumers to providing freelancers with a flexible expense tool, while also enabling the unbanked to access secure, reloadable funds. Backed by Mastercard’s global infrastructure, the card ensures seamless and trusted payment experiences worldwide.
Comments