In a groundbreaking collaboration, Providus Bank Limited has partnered with MasterCard to introduce the pioneering Amphi card, marking a significant stride in payment and collection solutions tailored for business customers. The Amphi card stands as the first of its kind in the Middle East and Africa, heralding a new era of innovative financial technology.
During the launch event, Walter Akpani, the Managing Director of Providus Bank, underscored the institution’s unwavering dedication to innovation. He expressed gratitude to MasterCard for their partnership, highlighting the bank’s ambition to lead the charge in pioneering new avenues for enhanced financial transactions.
Describing the Amphi card as a testament to the bank’s commitment to ongoing innovation, Akpani emphasized that customers would be the primary beneficiaries of this pursuit, ensuring tailored solutions to drive business growth and customer satisfaction.
Deputy Managing Director Kingsley Aigbokhaevbo echoed Akpani’s sentiment, emphasizing the substantial cost reduction for Micro, Small, and Medium Enterprises (MSMEs) facilitated by this innovative card.
Representing MasterCard, Kari Tukur, Vice-president of Customer Service Solutions for East Africa & West Africa/Indian Oceans, lauded the Amphi card as the pioneering dual card in Eastern Europe, the Middle East, and Africa. She highlighted its multifaceted nature, seamlessly integrating payment and collection capabilities, thereby presenting an innovative and far-reaching solution to the market.
Tukur emphasized MasterCard’s recognition of the pivotal role MSMEs play in global economies and their commitment to supporting these businesses. The collaboration aims to empower these entities, acknowledging their significant contributions to economic growth and job creation.
Chike Chukwuelue, Manager of the Corporate Finance Division at the Bank of Industry (BoI), stressed the essential role MSMEs play in Nigeria’s economy. He highlighted BoI’s active involvement in fostering innovation and its collaboration with commercial banks to offer affordable loans to SMEs, underscoring their commitment to directly benefitting and supporting small businesses.
Chukwuelue cited statistics showing that MSMEs contributed over 48 percent to Nigeria’s GDP in 2022, representing more than 90 percent of businesses and 80 percent of employment, solidifying their position as the cornerstone of the Nigerian economy.
