UBA Emerges Winner of MasterCard Cashless Contest

United Bank for Africa Plc has emerged winner in three categories of the maiden edition of the MasterCard Cashless Champion Awards. The bank won in three out of six categories namely: cashless transactions champion, cashless volume champion and cashless cross-border champion.

The contest, which was launched in October 2014 by the global payments technology company, MasterCard, is aimed at encouraging the adoption of the cashless, hassle-free way of life.

The cashless transactions represents the highest increase between the third quarter and the fourth quarter of 2014 in the number of point of sale transactions, while the cashless volume champion is for achieving the highest growth in the value (dollar or naira) of the POS transactions between the third quarter and the fourth quarter of 2014. Meanwhile, the cashless cross-border champion is for the best improvement in international acquired volumes by enabling all its merchant locations to accept international EMV chip and PIN payment cards.

The Deputy Managing Director, UBA Plc and Chief Executive Officer, UBA Africa, Mr. Kennedy Uzoka, said, “This again affirms our commitment to driving the adoption of a cashless culture and is a confirmation of our leadership in e-banking in Africa.”

Speaking on the bank’s expansive e-banking reach, he said, “With thousands of POS and ATM terminals strategically deployed across Africa, the next UBA service point is just around the corner.”


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