Global electronic payments company Visa, in partnership with United Bank of Africa Plc (UBA) announces the launch of “SmartMoney”, a 21st century banking solution comprising a prepaid card and a mobile app for the African market. The partnership brings together Visa Inc’s trusted payments technology and SmartMoney’s mobile app experience to establish a millennial centric product proposition, for consumers who want to be in control of their money.
Speaking about the launch, DMD & CEO UBA Africa, Mr. Kennedy Uzoka said: “Modern, young Africans are constantly seeking and devising new ways to be banked. It is with this realisation that the SmartMoney prepaid card was first developed and introduced into the market in partnership with Visa.” The SmartMoney prepaid card allows young people to be banked. This means they are able to enjoy all the features of a bank account and the minimal costs associated with the prepaid card are also a massive plus.
“Now that the SmartMoney app has been conceptualized and launched, the SmartMoney card has since evolved to greater utility. Once you download the app and link it to your card, you enter into a whole new world of control. “added Mr Ade Ashaye, Country Manager Visa West Africa.
SmartMoney provides convenience to make purchases, perform online transactions, shop during international travel and access to cash from ATMs. SmartMoney App users have the ability to check card balances; track and budget spend, or send and receive funds between SmartMoney cardholders.
The SmartMoney Visa Prepaid card can be obtained and reloaded at UBA business offices. The SmartMoney app can be downloaded from Google Play or Apple IOS Store, and gives you even further control of your money.
Visa and UBA have launched SmartMoney in Nigeria, Ghana and Kenya before initiating roll out to other African markets in 2016. Additional product information can be found on the SmartMoney website www.we-are-smart-com
As part of the launch, SmartMoney has also partnered with Uber in Nigeria to provide cardholders with a sign-up offer. First time Uber users who link their SmartMoney card for payment will get an Uber credit to the value of N5000, by using promotion code VISALAG on sign-up.
Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world’s most advanced processing networks—Visa Net—that is capable of handling more than 24,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit corporate.visa.com
Pan-African financial services group, United Bank for Africa Plc (UBA) is one of the largest and most innovative card issuers on the African continent. A highly diversified financial services provider, UBA remains one of the largest financial institutions in Africa, with business offices in New York, Paris and London. UBA Plc controls significant market share in 19 different African countries. The UBA Group has a strong retail franchise across the African continent offering its more than eight million customers a bouquet of products and services tailored to meet their different financial needs. For more information visit www.ubagroup.com