Providus Bank,Mastercard launch new payment solution to bridge digital divide in Africa

Joy Agwunobi 

Providus Bank and Mastercard have launched a new payment solution aimed at expanding access and financial inclusion in Nigeria and across Africa. This initiative will leverage the bank’s strong presence in Nigeria and Mastercard’s expertise in developing innovative payment solutions.

The Providus Amphi Card, a cutting-edge innovation developed by Providus Bank in partnership with Mastercard, is specifically designed to meet the needs of small businesses and merchants who rely heavily on cash transactions. By leveraging Providus Bank’s presence in Nigeria and Mastercard’s global expertise, the Amphi Card enables micro, small and medium-sized enterprises (MSMEs) to make and receive payments quickly and easily, both domestically and internationally.

In addition, the card is designed to serve as a versatile payment solution for businesses, offering a range of features that will help them reduce expenses and generate revenue more efficiently. The card offers QR payments, cashback and discounts, and enables businesses to make and receive payments quickly and easily. The partners stressed that the solution will be particularly beneficial for small businesses, giving them a powerful tool to manage their finances and grow their businesses.

Walter Akpani, managing director and chief executive officer of Providus Bank, commented on the significance of the partnership, stating that it presents a unique opportunity for the bank to play a leading role in developing innovative financial solutions in Nigeria.

“Through the introduction of the Amphi Card, we are once again revolutionising payments in Nigeria. Each card is equipped with an imprinted QR code, seamlessly enhancing the banking experience, and adding an extra layer of convenience and efficiency,”he said.

In his remarks, Mark Elliott, division president for sub-Saharan Africa at Mastercard, highlighted the progress made in the transition towards a cashless society in Africa, while emphasising the need for further penetration of innovative solutions.

In his words, “As such, we are proud to collaborate once again with ProvidusBank to launch the first QR on Card launch across the region. Empowering these businesses with innovative, safe, secure, and efficient digital solutions will not only enhance financial inclusion but also drive rural development and fortify the resilience of the overall economy.”