The United Bank for Africa (UBA) Plc has unveiled MasterCard for Domiciliary accounts to its electronic products as demonstration of its support for the Central Bank of Nigeria’s cashless initiative.
In a statement made available to Leadership the bank noted that Mastercard would ease the transaction need of its customers who can now upgrade their Debit MasterCard for use on accounts denominated in currencies apart from Naira such as US Dollars, British Pounds and Euro.
“This variant of UBA’s Debit MasterCard products is tied to domiciliary accounts instead of Naira Current or Savings account. It offers the same flexibility of usage anywhere in the world, including Nigeria. When a transaction is carried out with the USD, GBP or Euro MasterCard, the Customer’s account is debited in Dollars, Pounds or Euro depending on the currency of the Domiciliary account. The Debit MasterCard product is unique as it offers the Customer the opportunity to spend from his or her domiciliary account,” the bank noted.