Access Bank and Mastercard have announced a strategic alliance aimed at improving cross-border transactions throughout Africa, marking a significant step in reshaping the continent’s financial services sector.
During the launch event in Lagos, Chizoma Okoli, Deputy Managing Director of Access Bank, emphasized the partnership’s importance in meeting customers’ changing demands in an interconnected world. She reiterated Access Bank’s dedication to innovation and providing exceptional global services.
Mark Elliot, Mastercard’s Divisional President for Africa, stressed the significance of cooperation in fostering innovation and financial inclusion. He highlighted the role of cross-border remittances in Africa’s economy and the potential for growth through solutions like those offered by the partnership.
Elliot outlined Mastercard’s commitment to advancing financial inclusion efforts, aiming to connect one billion people to the digital economy by 2025. This includes supporting small businesses and women entrepreneurs to empower communities and spur economic development.
Despite challenges like operating costs and transaction friction, Elliot indicated that the partnership between Mastercard and Access Bank would address these issues, benefiting individuals, businesses, and African economies.
Both parties reassured customers of implementing top-notch security standards and innovation to ensure secure transactions while delivering dependable payment solutions.
The strategic collaboration between Access Bank and Mastercard reflects a mutual dedication to utilizing technology and cooperation to promote financial inclusion and economic progress across Africa.
