The United Bank for Africa Plc is set to play a leading role in the electronic card segment of Nigeria ’s financial industry as it introduces the UBA MasterCard for banking convenience of its customers across the globe.

With the UBA MasterCard, customers of the bank can now carry out their electronic financial transactions, through the Automated Teller Machines, Point of Sales  and on the Internet, anywhere in the world.

A statement by the company noted that the card would assist transactions in a seamless manner even as customers stood to benefit from the bank’s range of cost saving e-banking products and services.

Commenting on the benefits of the new MasterCard, the Head Cards, UBA Plc, Mr. Adedeji Olowe, said MasterCard was partnering with UBA to accept and issue payment cards across 19 African countries.

“UBA is offering customers world-class products to roam their Money in Naira and three other currencies, Dollar, Pounds and Euro. UBA represents the biggest potential for MasterCard in Nigeria today and across Africa,” he stated.

MasterCard is the second largest financial network in the world and is accepted in 210 countries, over one million ATMs and 32 million merchant locations. MasterCard has witnessed massive growth in Nigeria in the last five years.

Olowe noted that part of the benefits  included that  the usage of UBA MasterCard in other currencies would have no annual spending limit adding that UBA had concluded plans to provide full bouquet of payment cards across debit, prepaid and corporate cards.

These cards, he maintained, would also come in premium levels such as Gold, Platinum and World.

The Division President, Sub-Sahara Africa, MasterCard Worldwide, Mr. Daniel Monehin, said, “Mastercard is delighted to partner with one of the leading banks on the continent on the deployment of MasterCard to 19 countries on the continent.

“Our partnership with UBA had come a long way, and the financial institution has an entrenched card based products and channels, millions of customers on the continent would benefit from.”

Source: Punch