UBA, Mastercard Launch Prepaid Card to Drive Financial Inclusion in Africa
United Bank for Africa (UBA) Plc, in partnership with Mastercard, has introduced a prepaid card designed to promote financial inclusion across Africa.
The card does not require a bank account and is targeted at youths, gig workers, and low-income earners who often lack access to formal banking. Users can load funds, transact globally, and manage spending securely.
With over 28.9 million Nigerian adults still unbanked, the initiative aims to bridge gaps in digital payments and improve access to financial services.
UBA’s Group Head of Retail & Digital Banking, Shamsideen Fashola, said: “This collaboration with Mastercard is yet another demonstration of our customer-first approach. We are committed to providing practical solutions that meet the everyday needs of Nigerians, and this card will make payments simpler, safer, and accessible to all.”
Mastercard’s Country Manager, West Africa, Dr. Folasade Femi-Lawal, added: “At Mastercard, we are relentlessly committed to advancing financial inclusion through innovative and secure digital payment solutions… Together, we are empowering Nigerians with the tools they need to confidently participate in the global economy and shape a more inclusive digital future.”
The card offers benefits for different groups: budgeting for households, flexible payments for freelancers, and a secure allowance tool for the unbanked.
UBA operates in 20 African countries and several global markets, while Mastercard provides payment solutions in over 200 countries, making the partnership a key step toward inclusive financial growth in Africa.
