Mastercard & Zenith Bank Roll Out Essential Debit Card in Nigeria
IT News Africa | Mamsi Nkosi - Nov 19, 2025
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Essential Debit CardMastercardZenith Bank PlcDame Dr. Adaora UmeojiNigeria Inter-Bank Settlement System (NIBSS)
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AI OverviewThe most relavant information from the article.
  • Mastercard and Zenith Bank collaborated to launch the Essential Debit Card in Nigeria.
  • Electronic payment transactions in Nigeria surged to ₦1.08 quadrillion in 2024, an 80% increase from 2023.
  • Point-of-sale transactions reached ₦19.4 trillion, reflecting an 81% year-on-year rise.
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The launch of the Essential Debit Card represents a significant step towards enhancing financial inclusion in Nigeria. By addressing the needs of underserved populations, this initiative not only empowers individuals but also contributes to the broader economic development of the country. Further discussions could explore the long-term impact of such collaborations on the financial landscape in Nigeria.
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