Access Bank and Mastercard have unveiled a strategic partnership aimed at enhancing cross-border transactions across the African continent, signaling a pivotal move to reshape the financial services landscape in Africa.
Speaking at the launch event in Lagos, Chizoma Okoli, Deputy Managing Director of Access Bank, highlighted that the partnership represents a significant milestone in meeting customers’ evolving needs in an interconnected world. She emphasized Access Bank’s commitment to innovation and delivering excellent services to customers globally.
Mark Elliot, Divisional President for Africa at Mastercard, underscored the importance of collaboration in driving innovation and financial inclusion. He emphasized the role of cross-border remittances in Africa’s economy, highlighting the opportunity to grow remittance flows through solutions like the one provided by the partnership.
Elliot outlined Mastercard’s commitment to advancing financial inclusion initiatives, aiming to connect one billion people to the digital economy by 2025. This includes supporting small businesses and women entrepreneurs to empower communities and drive economic progress.
Acknowledging challenges such as operating costs and transaction friction, Elliot noted that the partnership between Mastercard and Access Bank would address these issues, benefiting individuals, businesses, and economies across Africa.
Both parties assured customers of adopting the highest security standards and innovation to ensure secure transactions while delivering reliable payment solutions.
The strategic partnership between Access Bank and Mastercard reflects a shared commitment to leveraging technology and collaboration to drive financial inclusion and economic growth across Africa.
