Mastercard, in partnership with Zenith Bank, has announced the launch of two innovative payment cards aimed at driving financial inclusion in Nigeria.
The newly unveiled cards, the Mastercard Naija Card and the World Elite Credit Card, cater to the diverse financial needs of various market segments within the country.
The Mastercard Naija Card represents a significant stride in Mastercard’s commitment to fostering financial inclusion by providing affordable banking solutions to individuals historically excluded from traditional financial services.
With Nigeria having approximately 28.8 million financially excluded individuals as of 2023, this initiative aims to bridge the gap by offering accessible banking options.
On the other hand, the World Elite Credit Card targets ultra-high-net-worth individuals, offering a range of benefits and discounts across travel, lifestyle, health, and insurance services.
This premium card is designed to cater to the affluent segment of the population, providing exclusive privileges and rewards.
Folasade Femi-Lawal, the Country Manager and Area Business Head for West Africa at Mastercard, expressed excitement about the launch, emphasizing its significance in the mission to connect one billion people to the digital economy by 2025.
She highlighted the role of these products in providing tailored banking solutions to diverse consumer segments and driving financial inclusion.
Ebenezer Onyeagwu, the Group Managing Director/CEO of Zenith Bank Plc, echoed this sentiment, emphasizing the collaborative effort between Mastercard and Zenith Bank to redefine the financial landscape in Nigeria and West Africa.
He emphasized their commitment to delivering accessible and customized financial services across all customer segments, thereby driving progress and financial empowerment.
The collaboration between Mastercard and Zenith Bank signifies a pivotal milestone in expanding access to high-quality, locally relevant financial services, underscoring their dedication to advancing financial inclusion and driving socio-economic development in Nigeria.