Tech giant, Mastercard, has unveiled two groundbreaking products in partnership with Zenith Bank: the Mastercard Naija Card and the World Elite Credit Card. These innovative payment solutions are poised to address the diverse financial needs of Nigerians while accelerating financial inclusion in the country.
The Mastercard Naija Card is designed to provide affordable banking solutions to consumers who have historically been excluded from traditional financial services. By offering accessible banking solutions, this product aims to reduce the number of financially excluded individuals in Nigeria, which currently stands at a staggering 28.8 million as of 2023. This initiative aligns with Mastercard’s overarching mission of connecting one billion people to the digital economy by 2025, fostering a more inclusive financial ecosystem for all.
On the other hand, the World Elite Credit Card caters to ultra-high-net-worth individuals, offering a plethora of exclusive benefits and discounts, including travel, lifestyle, and health and insurance services. Targeted cardholders can expect a superior level of service both domestically and internationally, empowering them to enjoy unparalleled convenience and luxury.
Folasade Femi-Lawal, Country Manager and Area Business Head, West Africa, at Mastercard, expressed her enthusiasm for the launch of these innovative solutions, emphasizing their pivotal role in advancing financial inclusion in Nigeria. She underscored Mastercard’s commitment to providing affordable banking solutions tailored to the unique needs of diverse consumer segments, bringing the company’s vision of a more inclusive financial ecosystem one step closer to reality.
The collaboration between Mastercard and Zenith Bank marks a significant milestone for both entities. Notably, this partnership signifies Mastercard’s introduction of its first domestic card in Africa and the debut of the World Elite Credit Card in West Africa. It underscores Mastercard’s dedication to expanding access to locally relevant financial services while aligning with Zenith Bank’s mission of driving innovation and delivering premium value to its stakeholders.
Dr. Ebenezer Onyeagwu, GMD/CEO of Zenith Bank Plc, expressed his delight in collaborating with Mastercard to launch these groundbreaking products. He highlighted their potential to bolster financial inclusion and cater to the diverse needs of Zenith Bank’s customers, reaffirming the bank’s commitment to providing accessible and bespoke financial services across all customer segments.
With the introduction of these innovative payment solutions, Mastercard and Zenith Bank are poised to reshape Nigeria’s financial landscape, offering enhanced control and access to premium services. Together, they are driving a shared vision of progress and accessibility, propelling Nigeria towards a more inclusive and prosperous future.
