Access Bank & Mastercard to expand cross-border payments in Africa

By Delisha Fernandes

Access Bank Group, has launched an innovative solution in collaboration with Mastercard to expand access to cross-border payments and remittances to and from the continent.

By leveraging the network and treasury capabilities of Mastercard Move, Access Bank, through its Access Africa platform, shall empower individuals and businesses to enjoy instant, traceable, seamless, and cost-effective international transactions.

“We are thrilled to collaborate with Mastercard to advance financial inclusion in Africa through the Access Africa initiative,” said Robert Giles, Senior Advisory, Retail Banking, Access Bank. “By combining our strengths, we can unlock new opportunities, bridge the financial divide, and create a more inclusive and prosperous future for all Africans.”

The newly launched solution will be operational across Africa, with expansion plans in place for further penetration across the continent. The solution offers a global gateway for businesses and individuals that are leveraging Access Bank Group’s deep understanding of the African markets and forward-looking vision that aims to realise customers aspirations through innovative product sets. 

Customers in Access Bank’s operating countries in Africa, are now enabled to send and receive cross-border payments globally through to and from various channels including bank accounts, mobile wallets, cards, and cash.

“Empowering Access Bank customers with innovative solutions that prioritize choice, security, and flexibility is an achievement that fills us with great pride. This collaboration signifies our commitment to transforming payment experiences as it not only brings cutting-edge payment solutions to the bank’s diverse clientele, but also extends the reach of Mastercard’s financial and digital ecosystem, ensuring millions from underserved communities can actively participate in the evolving financial and digital economy,” adds Mark Elliott, Division President for Africa at Mastercard.

This collaboration represents a significant step towards creating a more inclusive financial ecosystem in Africa, with both parties determined to continue actively leveraging their collective strengths, resources, and expertise to drive meaningful change and financial inclusion for millions across the continent.