United Bank for Africa,UBA, has announced the roll-out of its Debit MasterCard in Cameroon in the bid to financially empower all citizens.
Focused on displacing cash, the electronic payment solution will deliver a quick, convenient and secure payment alternative for all citizens in real-time. In line with its strategic vision, UBA is introducing innovative payment solutions that meet the needs of people across Africa.
According to Dr Yinka Adedeji, UBA Digital Banking Group Head, the Debit Mastercard card gives the cardholder full control of their funds and provides them with the ability to deposit funds directly from a savings or current account, thereby reflecting all transactions in real time.
“As a group, we are committed to driving financial inclusion and empowering businesses across Africa, and our partnership with Mastercard enables us to deploy safe electronic solutions to the benefit of the entire country,” Dr Yinka Adedeji said.
Going by an official statement from the bank, the card will help empower people through access to financial tools, with the launch in Cameroon following the recent rollout in Ghana. The quick go-to-market strategy is ensure 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.
UBA Cameroon is highly regarded for its innovation in the banking sector in the country, helping to build a strong reputation across Africa. In 2015, UBA Cameroon became the first bank in Africa to win the ‘Prepaid Card Innovation of the Year’ and has also received The Bankers’ Magazine Bank of the Year Award, four times.