UBA Mastercard prepaid card launch sparks hope

UBA Mastercard prepaid card launches to expand financial inclusion, offering secure, flexible payment solutions for Nigeria’s unbanked and freelancers

UBA Mastercard prepaid card has been launched to expand financial inclusion and bridge digital payment gaps across Africa.

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The product, unveiled on Tuesday, allows individuals without a traditional bank account to access secure, flexible, and globally accepted payment services.

United Bank for Africa (UBA) said the prepaid card is designed for young adults, freelancers, gig workers, and low-income earners who have historically struggled to access formal financial services.

Users can easily top up funds, spend locally and internationally, and track expenses with safety and convenience.

With an estimated 28.9 million Nigerian adults still unbanked, the initiative is a powerful step toward bridging financial gaps.

Shamsideen Fashola, Group Head of Retail & Digital Banking at UBA, described the move as another example of the bank’s customer-first philosophy.

“This collaboration with Mastercard is yet another demonstration of our commitment to making payments simpler, safer, and accessible to all,” he said.

Mastercard’s Country Manager for West Africa, Dr. Folasade Femi-Lawal, stressed the broader mission: “At Mastercard, we are relentlessly committed to advancing financial inclusion through innovative digital solutions.

Collaborating with UBA empowers Nigerians across all income levels to participate confidently in the global economy.”

Beyond access, the UBA Mastercard prepaid card offers practical benefits: gig workers gain flexible tools for expenses, families can use it as a reloadable allowance card, and the unbanked get a secure entry point into the digital economy.

Supported by Mastercard’s global infrastructure, users are assured of reliability, security, and peace of mind.

In a financial landscape where digital-first tools are increasingly demanded, this collaboration marks a forward-looking solution.

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As UBA and Mastercard emphasized, empowering the unbanked is not just about payments—it’s about opening doors to opportunity.

Quadri Olaitan