The financial service platform, MasterCard has granted an acquiring license to Unified Payment Service Limited, a shared infrastructure for the Nigerian banking sector. A move to drive the adoption of MasterCard payment cards in Nigeria.
With the acquiring licence, businesspersons on the Unified Payment’s e-payments services will now be able to process local and international MasterCard and other branded payment cards without operating multiple Point of Sale (POS) terminals.
“Through this partnership, we will introduce merchants – many of which are Micro, Small and Medium Enterprises – to all the benefits associated with MasterCard acceptance, while providing our more than two billion cardholders with even more locations at which to use their MasterCard payment cards,” Omokehinde Ojomuyide, Vice President and Area Business Head, MasterCard West Africa said.
With a faster absorbance of electronic payments in the country, business owners can increase revenue, access capital, and keep track of their spendings.