Ucard Transforms Financial Inclusion in Africa With Innovative Retail Solutions

Funmi  Ogundare

Ucard, a leading financial technology company empowering offline commerce in emerging markets, is transforming financial inclusion in Africa with innovative retail solutions.

Ucard is actively closing the divide between traditional banking and everyday commerce by providing a comprehensive range of retail solutions, including point-of-sale (POS) terminals, mobile money, and financial education. These solutions make it easier for businesses and individuals to access financial services, even in remote areas with limited infrastructure.

The need for innovative financial solutions is great in Africa, where more than half the population lacks access to banking services. According to the World Bank, only 48% of Africans had access to banking services in 2022, which is even lower in rural areas. Ucard’s unique approach addresses these challenges head-on, showcasing the resilience and adaptability required in the dynamic world of finance and work.

Ucard’s agency banking model leverages technology to bring banking services to places traditional banks have struggled to penetrate. 

This revolutionary model allows individuals to earn income as banking agents, thus fostering job creation, stimulating local economies, and promoting financial inclusion.

Recognizing the challenges of digital literacy and internet access, Ucard is investing in financial education initiatives. These efforts aim to guide individuals, especially women, in effectively understanding and utilising financial services.

Jide Maf, CEO of U-CARD, commented: “Ucard is more than a banking service provider; we are a catalyst for economic empowerment and financial inclusion,” declares Jide Maf, CEO of U-CARD. “Our mission is to make banking services accessible to everyone, focusing on Africa’s underprivileged and underbanked population.”

Ucard is also deeply committed to addressing the gender disparity in financial inclusion. “We understand the barriers women face in accessing financial services and are committed to overcoming these obstacles. Our mobile banking solutions are designed to empower women economically and equip them with the tools necessary for financial independence.”

“Ucard is not just a financial service provider; we see ourselves as partners in progress, working tirelessly to boost economic growth, create jobs, and reduce poverty. We are optimistic about the future and committed to making a tangible impact on the African continent,” said Maf.

Founded in 2021, Ucard is a leading agency-as-a-service solution that uses technology to extend banking, payments and other digital merchant services to Africa’s underbanked and unbanked population.