Nigeria: Mastercard and Zenith Bank Join Forces to Introduce Innovative Payment Cards, Driving Financial Inclusion in Nigeria

In a strategic collaboration aimed at advancing financial inclusion across Nigeria, global payments leader Mastercard has partnered with multinational Nigerian financial institution Zenith Bank to introduce cutting-edge payment cards.

The Mastercard Naija Card, a key component of Mastercard’s financial inclusion strategy, is designed to offer affordable banking solutions to individuals historically excluded from traditional financial services. By leveraging this innovative product, financial institutions can extend their services to a wider audience, contributing to the reduction of the 28.8 million financially underserved individuals in Nigeria as of 2023.

Complementing this initiative is the World Elite Credit Card, a premium offering tailored for ultra-high-net-worth individuals. This exclusive credit card provides cardholders with a range of benefits and privileges, including travel perks, lifestyle rewards, and comprehensive health and insurance services. With the World Elite Credit Card, targeted clientele can access enhanced services both domestically and internationally.

Expressing enthusiasm about the partnership, Folasade Femi-Lawal, Country Manager and Area Business Head for West Africa at Mastercard, stated, “We are thrilled to introduce these innovative solutions in collaboration with Zenith Bank. They mark a significant advancement in our mission to connect one billion people to the digital economy by 2025. By offering affordable banking solutions tailored to diverse consumer needs, we move closer to our vision of fostering a more inclusive financial ecosystem that benefits everyone.”

Dr. Ebenezer Onyeagwu, Group Managing Director/CEO of Zenith Bank Plc, also shared his thoughts on the collaboration, saying, “We are proud to partner with Mastercard in launching these groundbreaking products, which will greatly enhance financial inclusion and address the unique requirements of our customers. These solutions underscore our steadfast commitment to delivering accessible and customized financial services across all customer segments.”

Through this strategic alliance, Mastercard and Zenith Bank are poised to revolutionize the financial landscape in Nigeria and West Africa. Together, they aim to provide enhanced control and access to a suite of premium, tailored services, driving forward a shared vision of progress and inclusivity.