Fidelity Bank and Mastercard Launch “Fidelity Send” to Revolutionize Cross-Border Payments in Nigeria

Fidelity Bank Plc, in partnership with Mastercard, has launched a groundbreaking payment service named “Fidelity Send,” designed to streamline cross-border payments and remittances in Nigeria.

Speaking at the launch event held on Friday in Lagos, Dr. Nneka Onyeali-Ikpe, Managing Director and CEO of Fidelity Bank Plc, noted that Fidelity Send, promises near-instant payment solutions for the bank’s customers. 

Represented by Kevin Ugwuoke, Executive Director and Chief Risk Officer of Fidelity Bank, Onyeali-Ikpe emphasized that this new service will enable customers to transfer funds to over 60 countries with unprecedented speed, saving up to 20% on transfer fees.

Fidelity Send allows users to send money directly to e-wallets, bank accounts, payment cards, or for cash pick-up. “We are proud to be among the few banks offering a full suite of diaspora banking services, specifically designed to meet the financial needs of Nigerians abroad,” Onyeali-Ikpe stated. “Our customers rely on us for seamless international payments and remittances, and Fidelity Send is our latest innovation in delivering on that promise.”

Onyeali-Ikpe further noted that the bank’s ongoing efforts to pioneer innovative cross-border payment solutions have earned it numerous accolades, further solidifying its role in enhancing global trade for local businesses.

Also speaking, Osita Ede, Divisional Head of Product Development at Fidelity Bank, emphasized the collaboration’s reliance on Mastercard’s extensive global network to facilitate fast, cost-effective outbound transactions.

In his words, 

“This partnership directly addresses the challenges of cross-border payments by offering a solution that is faster, more reliable, and more transparent, with lower fees and no landing charges”.

The Fidelity Send service is specifically designed to enhance the international transfer experience for the bank’s growing customer base, offering solutions to common issues such as managing foreign currency fluctuations during transactions.

Folasade Femi-Lawal, Mastercard’s Country Manager for West Africa, expressed excitement for the collaboration, highlighting its potential to offer greater choice, security, and flexibility for individuals and businesses across Nigeria. “Through advances in payment technology, we are committed to empowering communities and driving financial inclusion for millions in underserved areas,” she said. She added that this initiative is in line with Mastercard’s broader goal to bring one billion individuals into the digital economy by 2025.

As a key player in retail, SME, and export finance, Fidelity Bank continues to push the boundaries of banking innovation. The partnership with Mastercard is a testament to this commitment, enabling the development of a payment solution that aligns with the bank’s goal of delighting customers with cutting-edge financial services.