United Bank for Africa (UBA) Plc has partnered with Mastercard to introduce a new prepaid card designed to expand digital payments and promote financial inclusion across Africa.
The product, recently unveiled, targets individuals without traditional bank accounts, including young adults, gig workers, and low-income earners who face barriers to accessing formal financial services. The card enables users to load funds, conduct local and international transactions, and manage spending securely.
Nigeria still has more than 28.9 million unbanked adults, according to analysts, who note that the rising demand for digital-first tools among freelancers and youth makes the prepaid solution timely.
Speaking at the launch, Group Head, Retail & Digital Banking, UBA, Shamsideen Fashola, described the partnership as a demonstration of the bank’s “customer-first” approach. “We are committed to providing practical solutions that meet the everyday needs of Nigerians, and this card will make payments simpler, safer, and accessible to all,” he said.
Mastercard’s Country Manager, West Africa, Dr. Folasade Femi-Lawal, said the collaboration aligns with the company’s goal of advancing financial inclusion. “Together, we are empowering Nigerians with the tools they need to confidently participate in the global economy and shape a more inclusive digital future,” she stated.
The prepaid card is globally accepted and offers benefits such as budgeting tools for cardholders, flexible payment options for freelancers, and secure reloadable allowances for the unbanked.
Both organisations said the initiative is aimed at breaking down long-standing barriers, enabling underserved communities, and supporting sustainable economic growth across the continent.
