UBA launches Masterpass QR
United Bank for Africa Plc has introduced its first merchant-focused app in Africa with the aim of 'creating a secure, mobile, accessible, reliable, transparent network of 100,000 micro-merchants and driving financial inclusion.'
The merchant app, called Masterpass QR, a mobile payment solution powered by MasterCard, is available for download to any feature or smart phone in the country, according to a statement by the lender.
The lender said the development came on the back of a commitment made by the UBA and MasterCard in July 2016 to introduce safer and more convenient ways to pay for goods and services in Nigeria and across the continent.
Masterpass QR is being introduced across all UBA's subsidiaries in the rest of Africa, according to the lender.
The Group Head, Consumer and Digital Banking, UBA, Dr. Yinka Adedeji, was quoted as saying, 'As a group, we are committed to driving financial inclusion and empowering businesses across Africa. Our partnership with MasterCard enables us to deploy safe digital solutions for customers and the banking public. UBA MasterCard QR merchant app is another of such solution.'
The Vice-President and Area Business Head for West Africa, MasterCard, Omokehinde Adebanjo, was quoted to have said, 'It speaks directly to our global goal of connecting 40 million MSMEs to our payment network by 2020, in support of our global Financial Access 2020 commitment.'