United Bank for Africa (UBA) Plc, in partnership with Mastercard, introduced a new prepaid card on September 2, 2025, aimed at accelerating access to digital payment services for underserved populations throughout Africa.
This newly launched card targets individuals who have traditionally been excluded from formal banking, including young adults, freelancers, and lower-income earners. Unlike regular bank accounts, this product allows users to easily fund their accounts and perform transactions both locally and internationally, all while managing their money securely and with flexibility.
With over 28.9 million Nigerians still unbanked, this financial tool addresses the gaps in the current payment landscape. It serves as a convenient budgeting aid for youth, provides a flexible payment method for gig workers, and offers a safe, reloadable card option for those outside the conventional banking system.
During the unveiling event at UBA’s Lagos headquarters, Shamsideen Fashola, Group Head of Retail and Digital Banking at UBA, emphasized the bank’s customer-centric philosophy, stressing their dedication to delivering practical, everyday financial solutions to Nigerians. He noted, that their partnership with Mastercard once again proves their commitment to simplifying and securing payments for all.
Dr. Folasade Femi-Lawal, Mastercard’s Country Manager for West Africa, restates the company’s mission to foster financial inclusion with innovative digital payment alternatives. She added that through collaboration with UBA, they are opening doors to economic participation for all segments of society, empowering Nigerians to confidently engage in the global economy and champion a more inclusive digital future.
This collaboration strives to dismantle barriers in the financial sector and drive economic growth by bringing underserved communities into the fold, thereby promoting a more inclusive and sustainable African financial ecosystem.
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