• Friday, April 12, 2024
businessday logo


Providus Bank, Mastercard’s pioneering card to drive financial inclusion for MSMEs

Creativity, culture, community take centre stage at Providus Hive Fest

In a bid to stimulate innovation within Nigeria’s financial space, Providus Bank and Mastercard are collaborating to accelerate digital inclusion in Nigeria and across Africa with a new payment solution.

The solution, called the ‘Providus Amphi Card’, is set to render seamless self-services to SMEs, merchants, and businesses with a special focus on cash-centric entities.

Powered by Mastercard, the Providus Amphi Card is a bundled solution of Mastercard’s industry-first SME Card and QR-Pay-By-Link solution – designed to enable MSMEs to make transactions seamlessly.

Read also: SignalADoc partners with Providus Bank

Through the solution, cardholders will also gain access to Mastercard’s SME benefits programmes such as the Entrepreneur Odyssey; a platform that provides business training content for micro and small businesses, and Easy Savings Specials; a dedicated platform where MSMEs can access discounted Value-Added Services from global and local third-party vendors.

“Providus Bank remains determined to being a frontrunner in innovative financial solutions in Nigeria. The Providus Amphi Card presents us an opportunity to demonstrate this commitment as we unpack the tremendous benefits it introduces to our customers, especially small businesses which remain the fulcrum of the economy,” Walter Akpani, MD/CEO, Providus Bank stated.

According to him, the introduction of the Amphi Card is meant to revolutionize payments in Nigeria. He stated that each card is equipped with an imprinted QR code, which seamlessly enhanced the banking experience, with an added layer of convenience and efficiency.

According to him, the Providus Amphi Card features exciting benefits, acting as an extra avenue for collections and revenue generation, and providing features including innovative QR payment, expense reduction, cashback or discounts, and more – driving convenience for cardholders across the payment ecosystem.

Additionally, it enables collection and payment and provides businesses with a versatile tool for everyday transactions, leveraging Mastercard’s Payment Gateway Services (MPGS) which are accessed through the unique QR codes imprinted on each card.

Read also: Providus Bank partners GEN to deepen entrepreneurship in Nigeria

“Africa has made commendable progress in transitioning towards a cashless society. However, further penetration and the introduction of innovative solutions remain essential for driving the financial inclusion of underserved communities and segments, especially cash-centric small businesses. As such, we are proud to collaborate once again with ProvidusBank to launch the first QR on Card launch across the region. Empowering these businesses with innovative, safe, secure, and efficient digital solutions will not only enhance financial inclusion but also drive rural development and fortify the resilience of the overall economy,” Mark Elliott, division president for Sub-Saharan Africa at Mastercard, stated.