The partnership which came into effect in Q2 2016 will see UBA issue MasterCard credit, debit and prepaid cards across these markets, allafrica.com reports. The partnership will also focus on increased payments infrastructure across Africa, including the roll out of point-of-sale and mobile-point-of-sale technology, to ensure merchants are able to accept the cards when introduced into these markets.
MasterCard and UBA are partnering across the 19 African countries in which UBA currently operates: Nigeria, Benin, Burkina Faso, Cameroon, Chad, Cote DIvoire, Democratic Republic of Congo, Equatorial Guinea, Ghana, Gabon, Guinea, Guinea-Bissau, Kenya, Liberia, Mozambique, Republic of Congo, Senegal, Sierra Leone, Tanzania, Uganda and Zambia.
On June 27, 2016, MasterCard set a goal to connect 40 million micro and small merchants to its electronic payments network within five years. This expands on the companys Universal Financial Access 2020 commitment made last year.
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