UBA Backs MoMo Virtual Card to Expand Financial Inclusion
United Bank for Africa (UBA) Zambia has reaffirmed its commitment to advancing financial inclusion and strengthening the country’s digital payments ecosystem through its partnership in the launch of the MTN MoMo Virtual Card powered by Mastercard.
Speaking at the launch event, UBA Zambia Chief Executive Officer and Managing Director, Mr Chinedu Obeta, said the new digital payment solution marks a significant milestone in Zambia’s journey towards inclusive and accessible financial services.
Mr Obeta said innovation remains a critical driver of financial inclusion, with UBA’s role as the issuing bank reflecting its strategic focus on leveraging partnerships to expand access to safe, secure and seamless digital payment solutions for individuals and businesses across Zambia.
“This collaboration demonstrates what is possible when strong institutions work together,” he said. “MTN brings scale and reach, Mastercard provides global acceptance and security, and UBA delivers the regulated banking infrastructure that connects mobile money users to the global payments ecosystem.”
He noted that the impact of the MoMo Virtual Card is practical and far-reaching, enabling access to online education services, supporting entrepreneurs trading in global markets, and allowing everyday users to participate confidently in international e-commerce.
Mr Obeta said the initiative aligns with UBA’s pan-African mandate and its long-standing commitment to Zambia’s socio-economic development, particularly in empowering individuals, stimulating commerce and strengthening the digital economy.
He commended MTN Mobile Money for its leadership in innovation and Mastercard for its continued investment in inclusive digital payment solutions across Africa.
Looking ahead, Mr Obeta said UBA looks forward to deepening its partnership with MTN and Mastercard to deliver greater value to the Zambian market.
“We are not just launching a virtual card; we are expanding opportunity and building a more connected financial future,” he said, adding that the MoMo Virtual Card marks the beginning of broader digital innovations aimed at transforming financial access in Zambia.
