United Bank for Africa (UBA) has rolled out two Mastercard electronic payment solutions in order to deliver cashless solutions to Kenyans. The UBA Debit Mastercard and UBA Mastercard Platinum cards will help improve financial inclusion in the country with focus on innovation, financial literacy and customer protection. The Platinum card will offer UBA customers with several benefits including legacy lifestyle gold tier membership, shopping and shipping discounts, Mastercard discounts among others.
In line with its strategic vision, UBA is introducing innovative payment solutions that aim at meeting the needs of people across Africa. The Debit Mastercard gives the cardholder full control of their funds and provides them with the ability to access funds directly from a savings or current account, thereby reflecting all transactions in real time.
“As a group, we are committed to displacing cash and empowering businesses and consumers across Africa, and our partnership with Mastercard enables us to deploy safe electronic solutions to the benefit of the entire country,” said Dr. Yinka Adedeji, UBA’s group head, digital banking.
The partnership will empower people through access to financial tools with the launch in Kenya coming after recent launches in other parts of Africa. This quick go-to-market strategy is ensuring that more people are connected to the formal financial sector, giving them the power to pay for goods and services in-store or online wherever Mastercard is accepted. The debit and Platinum cards can also be used at any ATM locally, and at millions of ATM locations worldwide.
Speaking at the launch ceremony, the Managing Director and CEO, UBA Kenya, Isaac Mwige said: “The introduction of the two payment solutions will enable our customers to carry out their banking transactions in a safer, more convenient and more reliable manner. Our customers’ needs are changing and as they change, we will continue to adopt smart technology solutions that deliver superior services.”
“In order to deliver a Kenya beyond cash we need to ensure all Africans feel confident that their money is secure, and that they have access to relevant solutions that meet their needs at all points of their life,” said Chris Bwakira, vice president and area business head, East Africa, Mastercard.
Bwakira also said that the UBA Debit Mastercard and Platinum card boasts of the latest payment standards with EMV Chip and PIN technology embedded into the card making it difficult for fraudsters to duplicate credentials, and that both organisations were focused on boosting financial inclusion across Africa.