Business

Access Bank and Mastercard Collaborate to Enhance Cross-Border Payments in Africa

Published by Tope Fakinlede on May 20th, 2024.

Access Bank and Mastercard Collaborate to Enhance Cross-Border Payments in Africa

Access Bank Group, in collaboration with Mastercard, has introduced a groundbreaking solution to facilitate cross-border payments and remittances, aiming to integrate Africa more deeply with the global economy.

This new solution enables both businesses and consumers to send and receive international payments across over 150 countries worldwide.

By utilizing Mastercard Move’s network and treasury capabilities, Access Bank, through its advanced Access Africa platform, provides instant, traceable, seamless, and cost-effective international transactions for individuals and businesses.

During the launch event, Chioma Okoli, Deputy Managing Director at Access Bank Plc, emphasized that this collaboration with Mastercard highlights Access Bank’s commitment to innovation and exceptional customer service. “Our partnership is aimed at delivering the service excellence our customers deserve. Access Bank remains dedicated to forming partnerships that help us achieve our objectives and dreams,” she stated.

Robert Giles, Senior Advisory for Retail Banking at Access Bank, expressed the bank’s excitement about working with Mastercard to promote financial inclusion in Africa via the Access Africa initiative. “By combining our strengths, we can unlock new opportunities, bridge the financial divide, and create a more inclusive and prosperous future for all Africans,” Giles added.

Effective immediately, this new solution is operational across Africa, with plans for further expansion throughout the continent. It offers a global gateway for businesses and individuals, leveraging Access Bank Group’s deep knowledge of African markets and a forward-thinking approach to meet customer needs through innovative products. By integrating Mastercard’s complementary network assets and the treasury capabilities of Mastercard Move, the partnership provides customers with enhanced payment options.