Providus Bank Partners Mastercard to Drive Financial Inclusion For SMEs With The Launch of Payment Solution
Nigerian financial services provider Providus Bank has partnered with giant payments processing corporation Mastercard, to drive financial inclusion for small and medium-sized enterprises (SMEs), with the launch of a payment solution.
The payment solution which is called ‘AmphiCard’, is set to render seamless self-services to SMEs, merchants, and businesses with a special focus on cash-centric entities.
The Amphicard is a solution of Mastercard’s industry-first SME Card and QR-Pay-By-Link solution, designed to enable MSMEs to make transactions seamlessly. Through the solution, cardholders will gain access to Mastercard’s SME benefits programs.
These include; Entrepreneur Odyssey; a platform that provides business training content for micro and small businesses, and Easy Savings Specials; a dedicated platform that MSMEs can access. discounted Value-Added Services from global and local third-party vendors.
The Providus Amphi Card features exciting benefits, acting as an extra avenue for collections and revenue generation, and providing features including innovative QR payment, expense reduction, cashback or discounts, and more – driving convenience for cardholders across the payment ecosystem.
Additionally, it enables collection and payment and provides businesses with a versatile tool for everyday transactions, leveraging Mastercard’s Payment Gateway Services (MPGS) which are accessed through the unique QR codes imprinted on each card.
Speaking on the launch of the AmphiCard payment solution, Managing Director and Chief Executive Officer of ProvidusBank, Walter Akpani said,
“ProvidusBank remains determined to be a frontrunner in innovative financial solutions in Nigeria. The Providus Amphi Card presents us an opportunity to demonstrate this commitment as we unpack the tremendous benefits it introduces to our customers, especially small businesses that remain the fulcrum of the economy.
“Through the introduction of the Amphi Card, we are once again revolutionizing payments in Nigeria. Each card is equipped with an imprinted QR code, seamlessly enhancing the banking experience and adding an extra layer of convenience and efficiency”.
Head of Card Business at Providus Bank, Lanre Ogundare described Amphicard as a work tool for merchants that integrates payment and collection seamlessly.
Describing how the card functions he said “When the QR that is created for the SME is scanned, it will take the individual to a payment page where they can complete the transaction”.
As SMEs continue to contribute significantly to Nigeria’s economy, the launch of the Amphicard by Providus Bank and Mastercard will address challenges they face in the area of payments, offering a secure, safe, and seamless integrated financial solution for these businesses.
