Global electronic payments company Visa, in partnership with United Bank of Africa Plc (UBA) yesterday announced the launch of SmartMoney, a 21st century banking solution comprising a prepaid card and a mobile app for the African market. The partnership brings together Visa Inc’s trusted payments technology and SmartMoney’s mobile app experience to establish a millennial centric product proposition, for consumers who want to be in control of their money.

Speaking about the launch, DMD & CEO UBA Africa, Mr. Kennedy Uzoka, said: “Modern, young Africans are constantly seeking and devising new ways to be banked. It is with this realisation that the SmartMoney prepaid card was first developed and introduced into the market in partnership with Visa.”

The SmartMoney prepaid card allows young people to be banked. This means they are able to enjoy all the features of a bank account and the minimal costs associated with the prepaid card are also a massive plus.

“Now that the SmartMoney app has been conceptualised and launched, the SmartMoney card has since evolved to greater utility. Once you download the app and link it to your card, you enter into a whole new world of control,” added Mr Ade Ashaye, Country Manager, Visa West Africa.

SmartMoney provides convenience to make purchases, perform online transactions, shop during international travel and access to cash from ATMs. SmartMoney App users have the ability to check card balances; track and budget spend, or send and receive funds between SmartMoney cardholders.

The SmartMoney Visa Prepaid card can be obtained and reloaded at UBA business offices while the app can be downloaded from Google Play or Apple IOS Store.

Visa and UBA have launched SmartMoney in Nigeria, Ghana and Kenya before initiating roll out to other African markets in 2016. Additional product information can be found on the SmartMoney website www.we-are-smart-com

As part of the launch, SmartMoney has also partnered with Uber in Nigeria to provide cardholders with a sign-up offer. First time Uber users who link their SmartMoney card for payment will get an Uber credit to the value of N5,000, by using promotion code VISALAG on sign-up.

•Photo shows CEO UBA Africa, Kennedy Uzoka.

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