E-Financial
MasterCard Switches-on Mobile Payments via Android Pay
On Monday, Google unveiled Android Pay, which will enable MasterCard credit, debit, prepaid and small business cardholders to use their Android phones for everyday purchases in-store and within Android apps.
This provides MasterCard cardholders with even more options for paying on the go using their choice of mobile device.
The ubiquity of mobile phones is changing the way consumers pay.
According to a recent Federal Reserve report, 39 percent of all mobile payment users with smartphones have made a point-of-sale payment demonstrating the increased demand for simple and secure ways to make device-based payments.
MasterCard built the foundation for secure mobile transactions, having introduced contactless payments more than a decade ago and delivering a complementary digital enablement platform in 2013 that is driving today’s mobile payment solutions.
Today, MasterCard contactless is accepted at more than three million merchants in 68 countries around the world, and our MasterCard Digital Enablement Service enables Android Pay to deliver a simple and secure payment experience so that consumers can use their cards when, where and how they want.
Starting this summer, owners of eligible Android devices will be able to use their MasterCard credit, debit, prepaid and small business cards directly through Android Pay.
For consumers and merchants alike, every purchase made with a tokenized MasterCard credit, debit, prepaid or small business card will offer the same security, benefits and guarantees as any MasterCard transaction.
And because Android Pay never shares the actual card number with merchants, consumers are provided with an extra layer of security.
“Mobile payments are here today, and are now an essential part of the core value proposition for new devices,” said Ed McLaughlin, chief emerging payments officer, MasterCard. “With the MasterCard Digital Enablement Service (MDES) and Android Pay, we can now use secure tokens to easily enable payments from a consumer’s connected device. Today’s news extends consumer choice and drives further ubiquity of payments on devices.”
“Mobile payments is big a priority for Google, so we’ve been working with major networks like MasterCard to help provide a seamless experience across a wide range of phones and stores. Android Pay will offer people further simplicity, security and choice when paying for things with their Android phones,” said Pali Bhat, director, Product Management, Google.
Android Pay will be made available for U.S. Android users (running KitKat or higher) in the upcoming months.
Contactless payments are currently accepted at major U.S. stores, restaurants, transit providers, fuel and convenience stores who will now also accept MasterCard transactions made using Android Pay.
MasterCard, is a technology company in the global payments industry, operating the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories.
Nigerian banks have resumed international transactions on naira-denominated debit cards, marking a significant shift in banking operations for customers who rely on foreign payments.
This is coming nearly three years of suspension.
United Bank for Africa (UBA) and Wema Bank, in separate communications to their customers, announced the restoration of international payment services on their naira cards.
In a notice to its customers, UBA said the reactivation of international transactions on its premium naira cards aligns with its commitment to delivering improved and seamless banking experiences.
“We are pleased to inform you that all UBA Premium Naira Cards, including Gold, Platinum, and World variants, are now enabled for international transactions,” the bank stated.
“This means you can now use your Premium Naira Card for global payments — including online shopping, POS, and ATM transactions — with ease and flexibility. If you haven’t used your card recently, now is a great time to rediscover the convenience and prestige that comes with being a UBA premium cardholder.”
Similarly, Wema Bank announced that its customers can now make dollar payments on international platforms using their naira Mastercards.
“Your Wema Naira Mastercard just went global!” the bank said. “Now you can pay in dollars on all your favourite international platforms — Amazon, eBay, AliExpress, Netflix, Spotify, YouTube.”
The development marks a major relief for Nigerian customers who have had to rely on dollar cards or alternative payment methods since most banks suspended international usage of naira cards in 2021 due to foreign exchange scarcity.
Flutterwave, Africa’s leading payments technology company, today announced the relaunch of its flagship remittance solution, Send App, across U.S. states following its newly acquired Money Transmitter Licences (MTLs).
This comes after Flutterwave secured 20 additional MTLs in the U.S., adding to the 14 licenses the brand has held since 2023.
Altogether, this achievement raises Flutterwave’s total number of direct licenses to 34, allowing the company to operate across many U.S. states and territories without partners or intermediaries.
Users in the U.S. can now send money to Nigeria, Ghana and Egypt, unlocking new remittance corridors that were previously unavailable.
Alongside this expansion, the onboarding process has been streamlined with a quick ID check, making it faster and easier for new users to get started.
Additional improvements include optimised payment support for US-issued Visa and Discover cards, enhanced security measures to safeguard transactions and maintain compliance, and improved in-app flows for a simpler, more efficient sending experience.
This return also highlights Flutterwave’s commitment to delivering a seamless, secure, and regulatory-compliant user experience for all Send App customers in the U.S. Users can now send money from DC, Georgia, Maryland, North Carolina, Michigan, South Carolina, Tennessee.
Other U.S. states and territories where Send App by Flutterwave supports outward remittances include Alaska, Arizona, Arkansas, Delaware, Idaho, Illinois, Indiana, Iowa, Louisiana, Maine, Minnesota, Mississippi, and Missouri, Nebraska, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Puerto Rico, Rhode Island, South Dakota, Utah, Washington, West Virginia, Wisconsin, and Wyoming.
Commenting on the relaunch, Olugbenga “GB” Agboola, Flutterwave Founder and CEO, said, “By expanding our reach and enhancing our services, we are empowering millions of Africans in the U.S. to maintain strong financial ties with their home countries, support their families, and contribute to economic development across the continent. Additionally, we are staying true to our core mission of bridging Africa with the global economy and vice versa.”
Earlier this year, Flutterwave integrated Swap into Send App for seamless FX transactions and strengthened its services in Ghana by securing approval for inward remittance from the Bank of Ghana.
Federal High Court in Abuja on Friday affirmed the authority of the Nigeria Inter-Bank Settlement System (NIBSS), to manage the Bank Verification Number (BVN), database across the country, in line with the Central Bank of Nigeria (CBN), Act and other relevant banking laws.
This is according to a judgment delivered by Justice James Omotosho on Friday.
Wolemi Esan, senior advocate of Nigeria, NIBSS’s counsel, and Kofo Abdulsalam-Alada, lead counsel for the CBN, among others, had sought a restraining order to prevent any institution in Nigeria from challenging the agency’s statutory authority to maintain and manage the BVN database.
This comes as NIBSS had alleged that Digital Rights Lawyers Initiative filed multiple suits, either directly or through proxies, challenging its authority to manage the BVN database and claiming that such management violates constitutional privacy rights.
However, Justice Omotosho, delivering his judgment, said the BVN does not infringe on the constitutional right to privacy.
“The initiative does not infringe on the constitutional right to privacy but rather serves as a necessary tool for safeguarding public interest and enhancing financial security.
“NIBSS has the power to manage the BVN,” the judge said, citing relevant CBN laws.
“The court grants the reliefs of NIBSS as prayed,” he stated.
Nigerian Banks End Years of Embargo, Resume Intl Transactions on Naira Cards
Flutterwave Secures 20 more US Money Transmitter Licences
Court Affirms NIBSS Authority to Manage BVN
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