MasterCard certifies UPSL for Nigerian market

MasterCard Worldwide has certified Unified Payments Services Limited as a third-party processor.

This was revealed by MasterCard Worldwide President, Mr Ajay Banga, who was recently in Nigeria on official visit.

He disclosed at an Abuja meeting that with the certification of UPS Limited in 2012 was to boost the MasterCard readiness to collaborate with stakeholders in bringing services closer to its card holders.

Mr. Banga also pointed out that this certification made MasterCard the first payment brand in Nigeria to have up to three third-party processors which aligns to the CBN’s drive towards liberalization in the card processing space and interoperability.

ITRealms recalls that the Unified Payment Services Limited otherwise known as Unified Payments, was the former SmartCard Nigeria Plc and later ValueCard, which proud itself as a card-neutral and option-neutral payments service provider owned by a consortium of leading Nigerian banks.

Unified Payments operates as a shared infrastructure for the banking community in Nigeria and Payments Service Provider within and outside Nigeria, with a mission to be the most preferred e-payment service provider in Africa.

Formerly known as ValuCard Nigeria Limited, the name of the Company was changed in 2012 to reflect its new business, following a successful transformation from a domestic card scheme to a provider of payment services supporting different payment options and schemes.

Unified Payments is a Principal and Plus Member of Visa and has contributed significantly to the growth of electronic payments in Nigeria.

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