The partnership will focus on developing practical, compliant applications for stablecoin payments across four key verticals: cross-border remittances, B2B settlement, digital loyalty ecosystems, and treasury management.

Both companies will work with banks, financial institutions, and regulatory stakeholders to pilot solutions designed to improve payment efficiency, reduce settlement friction, and lower costs for businesses and consumers.

Nigeria is one of the partnership’s initial focus markets, alongside Ghana, Kenya, South Africa, and the United Arab Emirates.

The collaboration will establish joint working groups to identify high-impact use cases and create interoperable solutions within the Mastercard network that connect traditional financial infrastructure with blockchain-powered payments.

Speaking on the significance of the partnership for Nigeria and the broader African market, Lasbery C. Oludimu, vice president of Operations and Managing Director for Yellow Card Nigeria, said:

“For markets in Africa, the real opportunity is to improve how value moves within and across borders, especially for remittances, B2B settlement, treasury management, and digital asset security. Mastercard and Yellow Card are exploring these use cases across key markets, including Nigeria, Ghana, Kenya, South Africa, and the UAE.”

“This collaboration is designed to create interoperable solutions between traditional finance and blockchain payments within the Mastercard network, enhancing payment efficiency and reducing costs for businesses and consumers in Nigeria and other emerging markets.”

Oludimu added that the partnership represents an important shift in how stablecoins are being viewed within the financial ecosystem.

“For Nigeria specifically, the practical change is that stablecoins can move from being seen mainly as a crypto product to becoming part of the broader payment infrastructure. When a global financial network like Mastercard works with a stablecoin infrastructure provider like Yellow Card, it helps create a bridge between traditional finance and blockchain-powered payments.”

The partnership comes at a time when stablecoins are seeing increasing institutional interest globally, particularly for cross-border payments and treasury operations.

Across Africa, businesses and consumers continue to face high remittance costs, foreign exchange challenges, and fragmented payment infrastructure, creating growing demand for faster and more efficient financial rails.

“Stablecoins are an exciting and useful option for some payments, and we look forward to working on additional use cases with Yellow Card, while continuing to leverage Mastercard’s expertise to make stablecoins seamless and secure,” said Mete Güney, executive vice president, Market Development, EEMEA, Mastercard.

“Together we look forward to taking digital finance into a new sphere, unlocking new efficiencies in cross-border trade, business-to-business settlements, and digital asset security, to generate a wide-ranging positive impact across the financial ecosystem,” the Executive Vice President added.

The collaboration builds on Mastercard’s growing blockchain and digital asset ecosystem, alongside Yellow Card’s footprint as one of Africa’s leading stablecoin infrastructure providers operating across more than 20 African markets.

Both companies say the partnership reflects a shared focus on utility-driven digital asset innovation and the development of secure, scalable payment infrastructure for emerging markets.

In late 2025 alone, Visa handled about $4.5 trillion in payment volume while Mastercard processed around $2.8 trillion in the final quarter, showing the scale at which both systems operate behind everyday purchases.

Most people do not think about it, and I don’t either when I tap a card or pay online. The transaction is easy and instant, but there is a whole process behind that simplicity, a system controlled by two companies that do not compete in the way consumers imagine.

We are not focusing on credit cards this time,  the story is about infrastructure.

Not Banks, Not Lenders: What They Actually Are

Visa and Mastercard are usually misunderstood as banks but they are not.

They do not issue cards, set interest rates, or decide your rewards. Instead, they operate as payment networks, connecting banks, merchants, and payment processors so money can move securely between them.

When a card is used, the network routes the transaction. Approval, rejection, fraud checks, and settlement all pass through systems built by these companies, but the money itself is held and issued by banks.

The separation explains why two Visa cards can be completely different depending on the bank behind them.

How a Single Card Payment Moves

A simple purchase hides a long chain.

A customer pays at a shop or online, the request goes through a payment processor, and then passes through either Visa or Mastercard’s network. The issuing bank checks the account, approves or rejects the transaction, and the confirmation travels back through the same route.

Only then does money begin moving between banks.

The entire process happens in seconds, but it depends on a global system built over decades.

A Duopoly Built on Scale, Not Visibility

Visa and Mastercard are at the top in their space because of one thing, and that’s scale.

Together, they operate across hundreds of countries and are accepted at tens of millions of merchant locations worldwide. Their reach creates a network effect, the more banks and merchants join, the harder it becomes for alternatives to survive.

Visa currently processes more total transactions, while Mastercard has shown slightly faster growth in some recent periods. But the gap is not about consumer experience but infrastructure size and adoption speed.

This is why analysts usually describe them as a duopoly.

Differences That Are Not Obvious

To most users, Visa and Mastercard are identical and that is largely true at checkout. But there are differences in other aspects.

Visa has historically held a slightly higher global transaction share, while Mastercard has been more aggressive in real-time payments and international expansion partnerships.

Both companies earn money mainly through transaction processing fees charged to banks and financial institutions, not directly from consumers.

Both also compete in security technology, including fraud detection, tokenisation, and identity verification systems. The focus is not on consumer branding but on infrastructure upgrades.

Even their acceptance levels are now extremely close, with both operating in well over 200 countries and territories.

The Competition Happens Behind Banks

What is usually missed is where the competition actually happens.

Visa and Mastercard do not compete in front of consumers. They compete for:

• Bank partnerships
• Merchant adoption
• Processing contracts
• Security infrastructure deals
• Cross-border transaction flows

These are invisible to users but essential to revenue growth.

Recent financial data shows both companies still rely heavily on high digital payments and cross-border spending, which is a key driver of fees.

Fees, Power and the Debate Around Cost

Every time a card is used, merchants pay a fee which is split across processors, banks, and networks.

These charges are usually between 2% and 2.5% per transaction in some markets, although exact levels vary. Recent negotiations and legal cases have pushed both companies toward possible adjustments in fee structures in certain regions.

This has created stress between merchants and networks, but the system is largely unchanged because of how deeply embedded it is in global commerce.

A System Still Expanding Despite Challenges

Despite competition from mobile wallets, fintech apps, and emerging payment rails, Visa and Mastercard are growing and expanding.

Recent earnings trends show double-digit revenue growth supported by high transaction volumes and digital spending. Cross-border payments, especially travel and e-commerce, are a strong driver for both networks.

At the same time, regulators in different regions have increased focus on fees and market authority, showing that the system is powerful but not unchecked.

Why the Difference Seems Invisible

For most people, there is no winner between Visa and Mastercard because there is no obvious difference in daily use, and that is the point.

The competition is not about the card in your hand but which company covers the system behind global payments more efficiently, more widely, and more securely.

You do not choose the network most of the time, your bank does. And that is why the difference between Visa and Mastercard usually seems almost invisible.

The deal adds SessionM to Capillary’s portfolio of loyalty platforms and strengthens its presence in global enterprise markets.

The company has previously integrated Brierley and Kognitiv, and this latest acquisition builds on that strategy.

SessionM’s team and expertise will join Capillary, ensuring continuity for its existing clients. These clients include retailers, airlines, and consumer goods brands among the Fortune 500.

Mastercard described Capillary Technologies as the ideal partner to guide SessionM into its next stage of growth. Meanwhile, Capillary explained that the acquisition will combine complementary technologies and create a stronger platform for enterprise clients.

Aneesh Reddy, founder and CEO of Capillary Technologies, said: “M&A has been a key growth strategy for Capillary over the years, and as a public company, we are delivering on that promise to our shareholders and the market. 

“By bringing SessionM into our portfolio, we are not just expanding our footprint across the globe; we are further strengthening our loyalty capabilities to deliver one of the industry’s most comprehensive offerings. Our mission remains to provide enterprises across industries with specialised, AI-native loyalty technology solutions.”

Founded in 2012, Capillary Technologies provides cloud-based software for enterprise loyalty and engagement. Its platforms allow businesses to manage loyalty programs, track consumer behaviour, and run unified campaigns across channels.

The company serves 115 clients in 47 countries, including 20 Fortune 500 firms.

SessionM will continue serving its global customer base under Capillary, while its specialised team will support platform development and client services.

• Nigeria’s Gross Domestic Product (GDP) is projected to rise by 4.0% in 2026, compared to global GDP growth of 3.1%
• Fiscal reforms and investments are unlocking new consumption and business activity
• Shifts in global trade flows reshape export dynamics
• SMEs and digital adoption remain key growth themes

The Mastercard Economics Institute (MEI) has released ‘Economic Outlook 2026’, its annual report identifying themes that will shape this year’s economic landscape.

The report examines how global policy changes which grabbed headlines in 2025 will continue to influence economies around the world throughout 2026.

Growth across Sub-Saharan Africa is expected to strengthen in 2026, supported by easing inflationary pressures, resilient consumer demand and infrastructure investment.

Nigeria’s economy is expected to expand by 4.0% in 2026, outpacing the projected global growth of 3.1%. Growth is expected to be driven by resilient consumer demand as fiscal reforms ease pressures on households and major investment programs support business activity.

Inflation pressures are forecast to be moderate across Africa, aided by a weaker US dollar and lower energy prices, allowing room for central banks to reduce interest rates.

Mastercard data indicates that in Nigeria, consumers have already increased their discretionary spending in the first half of 2025, most notably on travel, signalling growing consumer confidence.

“Nigeria’s economic outlook highlights the benefits of reform momentum and slowing inflation, which are helping to restore purchasing power. While global trade pressures remain, strong domestic demand and diversification into strategic industries are expected to support growth in 2026,” said Khatija Haque, chief economist, EEMEA, Mastercard Economics Institute.

“Nigeria’s reform momentum and improving business sentiment are unlocking new avenues for growth, from everyday consumer spending to the rise of technology-driven enterprises. With one of the continent’s most dynamic consumer markets, the outlook for 2026 highlights Nigeria’s powerful role in shaping Africa’s economic future,” said Folasade Femi-Lawal, country manager, West Africa at Mastercard.

Key findings from the report include:

Reforms are supporting stronger consumer demand

Structural reforms and moderating inflation are expected to improve household balance sheets, enabling consumers to spend more freely. Demand for services, including travel, leisure and lifestyle, has already strengthened, according to Mastercard data.

Diversifying trade with emerging markets

African economies, including Nigeria, are trading more within the EEMEA region and with other emerging markets.

As US tariffs affect key sectors including automobiles, textiles and agricultural products, the Chinese Mainland’s removal of import duties on most African goods could help open alternative markets, deepening exporters’ integration into global supply chains.

As trade corridors expand, Mastercard’s cross-border payment solutions support businesses by enabling faster, more secure and more efficient international transactions.

Investment remains a key driver of growth

Investment is expected to remain a key driver of economic growth across Africa, including Nigeria. MEI notes that investments in renewable energy, transport and logistics infrastructure, natural resources and urban development should bolster economic activity by strengthening productive capacity and supporting longer-term growth.

Digital transformation boosts SME participation

The MEI anticipates digital transformation, particularly deeper AI integration, will boost productivity and growth.

With growing adoption of digital payment tools globally,  MEI sees an opportunity for SMEs to continue to gain share in tech-driven services.

To succeed, SMEs require strategic agility and digital readiness.  Those that are the most flexible and tech forward are likely to be best positioned to accelerate growth.

Consumers worldwide will remain savvy, focusing on international, tech-enabled and value-conscious spending.

They will continue to prioritize meaningful moments, such as travel and live events, while remaining price-sensitive for many necessary goods.

The ‘Economic Outlook 2026’ report draws on a multitude of public and proprietary data sets, including aggregated and anonymized Mastercard sales activity, as well as models that are intended to estimate economic activity.

The company described the growth as a major milestone that brings millions more consumers and small businesses into the continent’s fast-expanding digital economy.

This accelerated progress underscores the strong advancement of digital payments, technology, and innovation in Africa, a transformation that traditionally would have taken several years to accomplish.

The surge comes in a year defined by new market entries, significant investment, product innovation and an expanded on-ground presence, efforts that reinforce Mastercard’s role in powering Africa’s projected $1.5 trillion digital payments market by 2030.

Mastercard Deepens African Footprint with New Markets, New Teams

Over the past two years, Mastercard has accelerated its Africa expansion, opening new offices in Ghana, Uganda and Mauritius, with the aim of further markets set for launch in 2026.

The company also grew its employee base by almost 20% across the continent, strengthening local capabilities and enabling co-creation of solutions tailored to the needs of African communities and merchants.

Alongside its footprint expansion, Mastercard advanced key digital infrastructure, including tokenization upgrades, digital identity capabilities and virtual card enhancements, to bolster trust, safety and convenience across online and in-person payments.

SME Growth at the Center of Mastercard’s Business Strategy

SMEs, Africa’s economic backbone, are a top focus. With consumer spending expected to rise across major markets (Kenya 4%, Morocco 3.4%, Nigeria 6%, South Africa 1.9%), demand for digital tools has surged.

Digital payment tools are also essential for SMEs to meet evolving business needs, enabling them to pay and get paid seamlessly, access credit, strengthen financial resilience, and operate with enhanced safety and security in an increasingly digital economy.

These tools include, tap on phone solutions, the Mastercard Payment Gateway System (MPGS)- that enables e-Commerce transactions, QR Payment capabilities like QR pay by link and QR on card solutions, Point of Sale solutions and Business Payment Control Capabilities, which enable virtual card issuance.

Mastercard is helping to advance Africa’s SME ecosystem through pan-African collaborations that enable seamless cross-border payments, credit solutions, and marketplace digitization.

Fuelled by these cross-sector collaborations that include governments, FMCGs and Telcos, the company has launched 15 new SME-focused programs in the past 18 months.

Key SME milestones have included:

• South Africa: Driving financial inclusion in South Africa through our partners in the FI and Non-FI space, unlocking growth, addressing access-to-credit constraints, and empowering thousands of SMEs to scale and grow with confidence.
• Morocco: Co-developed the country’s first Digital Marketplace with BCP, the Ministry of Handicrafts and Paysky, benefiting 3 million artisans.
• Nigeria:
  • New QR-on-Card solutions with UBA and WEMA enabling 8 million SMEs and gig workers to accept seamless payments.
  • USD cards with Zenith Bank supporting 50,000+ SMEs with effortless cross-border trade.
• Kenya, Mauritius, Tanzania: Collaborations with NMB, AfrAsia, Family Bank and KCB to empower 200,000+ SMEs with digital solutions. 

Driving Financial Inclusion Across Underserved Communities

Mastercard is actively using Community Pass as part of its efforts to increase digital access in underserved and rural areas, especially in Africa. Community Pass is a social enterprise initiative that digitizes and connects remote, and rural communities to governments, NGOs, and private sector services.

As part of this initiative, Mastercard aims to register 15 million users in Africa within five years through the platform. Mastercard Community Pass has already reached 1.2 million smallholder farmers in Uganda and represents our unwavering commitment towards financial empowerment

Through the Mobilizing Access to the Digital Economy (MADE) Alliance: Mastercard and key stakeholders aim to expand access to digital services for 100 million individuals and businesses by 2034. Since launching in May 2024, the MADE Alliance has engaged in Kenya by:

• Enabling affordable high-speed internet and digital training for 13 cooperatives, reaching 10,000+ farmers.
• Launching Farm Pass deployment to digitize profiles of more than 80,000 farmers.
• Building capacity for 250,000 farmers through local cooperative partners.

Commenting, Mark Elliott, division president, Africa, Mastercard, said:

“2025 has been a defining year for Mastercard in Africa. From acceptance growth to new digital capabilities, our focus has been on solutions that bring people and small businesses into the heart of the digital economy. Our collaborations across Africa will continue to connect more people and businesses to the financial system, helping drive greater financial inclusion and economic opportunity, as we collectively look towards a $1.5 trillion digital economy by 2030.”

For Mohamed Benomar, country manager, North West Africa:

“North Africa’s expanding fintech ecosystem and strong infrastructure make it a critical engine for digital commerce. Mastercard’s investments strengthen support for governments, consumers and SMEs alike.”

Shehryar Ali, SVP & country manager, East Africa & Indian Ocean Islands, also said:

“East Africa continues to lead the world in digital financial inclusion. This year we scaled cross-border solutions, virtual cards and acceptance growth to enable more trusted digital engagement.”

Folasade Femi-Lawal, country manager, West Africa:

“West Africa is one of the continent’s fastest-growing digital corridors. Mastercard’s security-led innovations and acceptance expansion helped more SMEs and young entrepreneurs access modern payments.”

Gabriel Swanepoel, country manager, Southern Africa:

“With South Africa driving Mastercard’s real-time payments capability globally, 2025 was a breakthrough year for innovation. Our collaboration on digital identity further strengthened secure, frictionless digital commerce.”

Looking Ahead: AI to Power Africa’s Next Digital Leap

Mastercard predicts that technologies such as AI and agentic commerce will define the next era of commerce, with Africa’s AI market projected to reach $16.5 billion by 2030.

In 2026, Mastercard said it will continue advancing financial inclusion, expanding across markets and introducing more locally relevant digital solutions, all while investing in the infrastructure needed to support a more secure and connected African economy.

The forum focused on building the infrastructure, trust and interoperability needed to support Africa’s fast-growing digital economy, projected to reach USD 1.5 trillion by 2030, and create new opportunities for consumers and small businesses.

Hosted by Mark Elliott, division president, Africa, Mastercard, the event brought together senior representatives from banks, fintech companies, telcos, regulators and technology partners.

Speakers and panelists discussed how to expand low-cost acceptance, improve interoperability and enhance security at scale to create a more inclusive and resilient economy.

With internet penetration in Africa projected to grow at 20 percent annually, participants agreed that seamless, secure and connected payment systems are essential to sustaining growth and unlocking new opportunities for trade and entrepreneurship.

During the event, Mastercard showcased two breakthrough innovations shaping the future of digital commerce.

The first-ever Agent Pay transaction in EEMEA was executed live, marking a major step toward autonomous, secure and accessible payment experiences.

In addition, Mastercard launched the Merchant Cloud, a unified platform that brings together payments, AI and security to help merchants grow their businesses confidently in an omnichannel environment. Both innovations underscore Mastercard’s commitment to building intelligent, inclusive and resilient payment ecosystems that power Africa’s digital transformation.

Mark Elliott, division president, Africa, Mastercard, said,

“Africa Edge is a reflection of Mastercard’s long-term commitment to this continent. It is about collaboration and supporting partners across the ecosystem to deliver secure, seamless and accessible digital experiences that help people and businesses grow. Africa’s digital economy is scaling fast, and Mastercard is proud to be a trusted technology partner helping power that growth.”

Throughout the day, discussions highlighted the growing importance of payment immediacy and liquidity, with panelists noting how same-day settlement helps small businesses absorb shocks, reduce borrowing needs and reinvest faster.

South Africa’s real-time clearing system was cited as a model as Mastercard advances instant-payment capabilities across multiple African markets.

Ling Hai, president of APEMEA, Mastercard, further highlighted faster payments as critical to helping small businesses manage cash flow and grow.

He emphasized that Africa’s digital future depends on simple, safe and accessible payment solutions that work across markets and devices, calling for closer collaboration between the public and private sectors to ensure innovation benefits everyone.

Futurist John Sanei, the event’s keynote speaker, explored how human adaptability and emotional intelligence will define leadership success in an era of AI-driven change.

A spotlight session with Smile ID addressed the rising threat of synthetic identities and deepfakes, highlighting how Mastercard and Smile ID are combining AI-driven liveness checks and verification to strengthen digital onboarding and reduce fraud across African markets.

Folasade Femi-Lawal, country manager, West Africa, Mastercard, said:

“West Africa is home to one of the world’s fastest-growing fintech sectors. Nigeria alone accounted for 28 percent of all African fintech companies in 2024, attracting nearly USD 400 million in investment. By combining global technology with local insight, we are helping banks, fintechs and innovators build open, trusted and scalable infrastructure. Our collaborations with governments, banks and fintech companies in the region are making digital payments simpler and safer for millions, proving that inclusion and innovation can move forward together.”

The event culminated in a celebratory awards ceremony and gala dinner, recognizing outstanding contributions from Mastercard’s partners and customers across Africa who are advancing innovation and inclusion in the digital economy.

From fintech to agri-tech, lifestyle, entertainment to healthtech, compliance, AI, investor’s forum, the event is set to showcase how fintech is not limited to just the finance sector; it’s the orchestrator of how economies live, move, trade, and connect.

With the theme, “The Fintech Ecosystem Symphony: Orchestrating Nigeria’s Digital Future,” the event has attracted an impressive lineup of sponsors and partners, including FirstBank, Sumsub, Huawei, Mastercard, PAPSS, Zenith, Rwanda Finance, Network International, among others.

This united front signals outcomes bigger than a single organization. It means stronger credibility, deeper investments, and practical solutions designed to reach real people..

With many sponsors returning year after year, it’s clear that Nigeria Fintech Week has earned the trust of the digital ecosystem, while charting the path to sustainable economic growth and inclusion across Nigeria and Africa.

“Huawei has been a proud sponsor of Nigeria Fintech Week for some years now, because we see it as more than an event,” noted, Huawei spokesperson. “This year’s theme, ‘The Fintech Ecosystem Symphony: Orchestrating Nigeria’s Digital Future,’ resonates deeply with us, as we continue to invest in the technology that connects people, businesses, and opportunities.”

At NFW25, sponsors are not just getting brand visibility; they’ll be driving conversations, hosting product demos, and activating sessions around the industries they care about most.

With over 20,000 industry professionals expected to participate across Lagos, Abuja, and Enugu, the event promises an unparalleled hub for networking, deal-making, and knowledge exchange. Attendees will have the exclusive chance to engage directly with executives and decision-makers from these leading organizations at their activations and booths.

Registration for Nigeria Fintech Week 2025 is free. Secure your spot at nfw.fintechng.org to connect with the innovators and leaders orchestrating Africa’s digital future.

This milestone underscores Mastercard’s commitment to privacy, data responsibility, and regulatory compliance, while advancing its broader ambition to embed responsible data practices across Africa’s digital economy.

The VPA is a training program developed by the NDPC to equip professionals with essential knowledge on personal data governance, lawful processing, cybersecurity hygiene, and emerging regulatory obligations.

It distills the core principles of the Nigeria Data Protection Act (NDPA) 2023 and the General Application and Implementation Directive (GAID) 2025 framework into engaging, locally relevant content for employees across all sectors.

The urgency, Mastercard said, is clear, data breach incidents in Nigeria surged by 64% in the first quarter of 2023 alone, and the Nigeria Data Protection Commission investigated 213 privacy breaches between 2023 and 2024, underscoring the critical need for widespread privacy awareness training.

“Privacy is not just a compliance requirement; it’s a core pillar of digital trust. By enrolling all our Nigerian staff in the NDPC Virtual Privacy Academy, we are embedding privacy awareness into the fabric of our operations and supporting Nigeria’s digital rights agenda,” said Mark Elliott, Division President for Africa at Mastercard.

“The Virtual Privacy Academy represents a landmark opportunity to scale privacy knowledge in a way that is both practical and impactful. Our collaboration with NDPC is equipping professionals with the tools to make ethical, informed decisions that protect individuals while enabling innovation,” said Derek Ho, Deputy Chief Privacy, AI and Data Responsibility Officer, Mastercard.

“We are proud to work with Mastercard to deliver real-world solutions that strengthen Nigeria’s data protection ecosystem. The Virtual Privacy Academy will play a critical role in empowering professionals with the knowledge and confidence to uphold ethical data practices in a rapidly evolving digital world,” said Dr. Vincent Olatunji, National Commissioner/CEO of the NDPC.

Following the completion of the training for all Mastercard employees in Nigeria, Mastercard plans to extend access to the VPA to its vendors and suppliers, in line with NDPC guidelines. This initiative builds on Mastercard’s work with regulators, professionals, MSMEs, and fintechs to foster a secure, inclusive, and trusted digital environment.

As part of this broader ambition, Mastercard is helping unlock Africa’s $1.5 trillion digital payments potential by 2030 by strengthening digital trust, enabling innovation, and championing responsible data practices across the continent.

Founded in 1997 by a consortium of leading Nigerian banks, Unified Payments has been a trailblazer in e-payment services.

As the only non-bank entity in Nigeria licensed as a Principal Member or licensed Acquirer of all major payment schemes, including American Express, Mastercard, Visa, UnionPay and Payattitude, the company has delivered secure, scalable and innovative payment solutions that empower businesses and individuals following its transformation to a scheme-neutral and option-neutral service provider.

Speaking on the significant milestone, the Managing Director/CEO of UP group of companies, Dr. Agada Apochi expressed profound appreciation to the UP team, Shareholders and customers for their unwavering support and trust enabling the growth of the company over the years.

Apochi reaffirmed the company’s commitment to continually leverage our shared technology infrastructure towards delivering seamless, adaptable, secure and intelligent payment solutions that fuel economic growth and inclusion.

“At Unified Payments, we are immensely proud of the milestones we have achieved over these 28 years. What began as a bold initiative to create innovative financial solutions in Nigeria has evolved into a powerhouse that is unifying businesses, connecting people and driving sustainable progress. Our success is a testament to the dedication of our team, the trust of our shareholders and customers towards our relentless pursuit of excellence. As we look to the future, we remain committed to pushing boundaries, fostering inclusion and delivering solutions that make a real difference in the lives of People and businesses. Here’s to many more years of unifying excellence,” he said.

Over the years, Unified Payments has pioneered numerous industry-first innovations, including but not limited to the issuance and acceptance of EMV Chip+PIN cards in Nigeria, significantly reducing card fraud in the country, its recent partnership with Pan-African Payment & Settlement System (PAPSS) to facilitate cross-border transactions among others.

The company also enabled Nigerian Naira account holders to use their cards globally for the first time, enabled acceptance of foreign cards for purchase at merchant locations and cash withdrawals; and simplified payments using phone numbers for increased accessibility.

UP also developed robust offerings spanning acquiring, processing, switching, payment terminal services aggregation, interbank transfers, agency banking, online payment gateways, value-added services, thereby empowering banks, businesses and consumers to transact effortlessly.

Through its commitment to cross-enterprise alliances, UP has enabled many other Fintech companies and businesses in Nigeria who leverage the licenses and capabilities of UP.

The renewed vision of UP is – To be the trusted enabler of businesses and lifestyle while the mission is – Building shared technology infrastructure and partnerships.

Starting next season, the team will be known as the McLaren Mastercard Formula 1 Team, with the move representing an exciting new era not only for the partnership, but for fans of the team around the world.

This expanded collaboration will unlock more opportunities for fans to enjoy exclusive, behind-the-scenes access and one-of-a-kind experiences.

Delivering on its fan-first promise, Mastercard is set to debut ‘Team Priceless’ – a global initiative that will allow Papaya fans to get closer to the team and action throughout the race calendar and experience a curated programme of activities.

On select race days, chosen fans will enjoy incredible experiences, from hot laps on track to meeting drivers and Priceless Experiences that spotlight the host city’s local culture. More details on Team Priceless and the recruitment process will be announced soon.

Zak Brown, CEO, McLaren Racing, said:

“There is no one more important to us than our awesome fans, so I could not be more delighted to enter this next chapter in our partnership with Mastercard with a promise to our Papaya Family around the world: that we will continue to put our fans first, bring them even closer to the team, and offer incredible experiences. Mastercard is a fantastic partner who shares our passions and values, so to have them on board as naming partner will offer us the perfect launch pad to keep pushing on and off track – and I cannot wait to see Team Priceless come to life in 2026.”

Raja Rajamannar, chief marketing and communications officer for Mastercard, added:

“Our partnership has been grounded in putting fans in pole position since day one, and becoming the Official Naming Partner of the McLaren Formula 1 Team takes that commitment to the next level. McLaren Racing represents the pinnacle of innovation, precision, and performance, values that mirror our own as we push boundaries and deliver winning experiences. Collaborations like Team Priceless reflect those values and give fans plenty to look forward to for this season and many more.”