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An initiative to drive efficient technology solution for payment processing in Africa, including Zambia has been unveiled by the United Bank for Africa (UBA).
The initiative called Mastercard Payment Gateway (MPGS) will also be used to drive financial inclusion and e-commerce services across the continent.
The MPGS services provides acquiring banks and partners with latest and efficient technology solution for payment processing, bank Managing Director, Chinedu Obeta said.
Obeta explained on Tuesday that it also enables clients to market quickly with a competitive offering that allows merchant customers to easily and securely accept global digital payments, mitigate risk and reduce operational costs.
Read more: Payment system to support smooth trade in Africa undergoing development
Obeta stressed that the bank leveraged on digital technology to serve its customers.
“The launch will help drive financial inclusion and am excited that we have another service for our customers.
At the same function, MasterCard vice president Products and Solutions, Shabir Ahmed, said the firm expected e-commerce to keep growing and an upwards trajectory will continue.
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