Mastercard And Zenith Bank Team up to Introduce Cutting-edge Payment Cards, to Advance Financial Inclusion Across Nigeria

Payments giant Mastercard has announced a strategic partnership with multinational Nigerian financial service provider Zenith Bank, introducing new payment cards to accelerate financial inclusion in Nigeria.

As part of Mastercard’s financial inclusion strategy, the Mastercard Naija Card aims to provide affordable banking solutions to consumers who have historically been excluded from traditional financial services. 

This groundbreaking product will empower financial institutions to extend their services to a broader clientele, thereby aiding in the mission to decrease the number of financially underserved individuals in Nigeria, which amounted to 28.8 million as of 2023.

Alternatively, the World Elite Credit Card, a premium credit card designed for ultra-high-net-worth individuals, offers a host of benefits and discounts, including travel, lifestyle, and health and insurance services. With the World Elite Credit Card, targeted cardholders can enjoy a higher level of service at home and abroad.

Speaking on the partnership, Country Manager and Area Business Head, West Africa, at Mastercard, Folasade Femi-Lawal said,

“We are excited to launch these groundbreaking solutions with Zenith Bank. They represent a significant step forward in our mission to connect one billion people to the digital economy by 2025. By providing affordable banking solutions catering to the unique needs of diverse consumer segments, our vision of powering a more inclusive financial ecosystem that benefits everyone moves a step closer to fruition,” 

Also commenting, Dr. Ebenezer Onyeagwu, GMD/CEO, of Zenith Bank Plc said,

“We are delighted to collaborate with Mastercard to launch these innovative products which will significantly bolster financial inclusion and address the unique requirements of our customers. These solutions demonstrate our unwavering commitment to delivering accessible and bespoke financial services across all customer segments”.

Through this partnership, Mastercard and Zenith Bank are positioned to reshape the financial landscape in Nigeria and West Africa. Together, they aim to provide improved control and access to a range of premium, customized services, fostering a collective vision of advancement and inclusivity.