BY NDUMBE BELL GASTON IN DOUALA
The UBA Cameroon Debit Mastercard has been launched. The rollout ceremony was made possible at the precincts of the Akwa Palace last Thursday May 18. The card is as a result of a partnership between Master card and the UBA Group.
UBA officials are very optimistic. According to them, the partnership will help to empower people through access to financial tools. More people are expected to connect to the formal financial sector and ensure their payments of goods and services over the counter or on-line in real time. They vision of introducing digital innovative payment solutions is also adapting to the changing needs of people across Africa superior services.
UBA officials say the new rollout makes the Cardholders stress-free and at centre stage of their financial transaction. The Managing Director and CEO, UBA Cameroon Udom Isong and the Group Director Marketing and Corporate Communications Bola Atta, from Lagos, talked with one voice “The Debit Mastercard gives the cardholders full control of their funds and provides them the ability to withdraw cash from Automatic Teller Machines (ATMS), make payment on-line or at any merchant shop that has POS with Mastercard acceptance capability. This withdrawal of funds will be made directly from a savings or current account thereby reflecting such transactions in real time. The debit card can also be used at any ATM locally and at millions located worldwide.”
Omokehinde Adebanjo Vice President and Area Business Head for West Africa Mastercard talked about protecting mastercard transactions and financial inclusion. “In order to drive financial inclusion we need to ensure all Africans feel confident that their money is secure. The UBA Debit Mastercard introduces the latest global payment standards with EMV chips and PIN technology embedded into the card making it difficult for fraudsters to duplicate your information. Cardholders will also be able to select their own PIN giving them full control to approve transactions at the point of sale or when withdrawing cash from ATMS.”
UBA, started December 18, 2007 with one branch and has grown to have 16 branches, three cash centres in six of the 10 regions of Cameroon. The Debit Mastercard is now fully operational in 19 African countries and 200 others across the globe. UBA Cameroon became the first bank in Africa to win the Prepaid Card innovation of the Year Award and has also received the Bankers’ Magazine Bank of the Year Award four times.