Unified Payments Goes Live on MasterCard Processing

L-R: Group Head, Business Development, Unified Payment Services Ltd, Miriam Imevbore; Country Manager, West Africa, MasterCard Worldwide, Omokehinde Ojomuyide during a signing ceremony between Unified Payments and MasterCard on the launch of Unified Payments Go-Live on MasterCard Third Party Processing in Lagos.

December 3, 2012: Lagos, Nigeria – Unified Payment Services Ltd (a.k.a. Unified Payments) is live as a MasterCard third party processor. By this initiative, Unified Payments becomes the first Nigerian e-payment service provider in Sub-Saharan Africa to be a third party processor for the world’s leading Card schemes; now including MasterCard, with a combined global market share of over 65% in transaction volume and value.

This milestone achievement underscores the company’s drive to be a one-stop shop and a shared infrastructure that truly offers clients electronic payment solutions that cut across different card schemes. This is made possible by reason of the strategic position as an option neutral and card neutral payment service provider i.e. the company does not discriminate against any card or payment option.

MasterCard Worldwide is a leading payments technology company with over four decades of experience in stimulating commerce globally through its best-in-class dynamic electronic payment solutions. MasterCard offers cardholders innovative payment solutions specific to their individual needs, making payments easier, quicker and more convenient. With over 34.3 million acceptance locations worldwide, MasterCard introduces customers to a world. beyond cash.

About Unified Payment Services Ltd:
• Formerly ValuCard Nigeria Ltd, Unified Payments is owned by a consortium of 18 leading Nigerian Banks. Our core business comprise Processing, Merchant Acquiring, Switching, Payment Terminal Service Provider and provision of Value Added Services & Solutions
• The company is the first and only Nigerian non-financial institution that is a Principal & Plus Member of a global Card Scheme and the first Nigerian e-payment Service Provider to be PCI-DSS (Payment Card Industry Data Security Standard) certified
• Unified Payments pioneered the issuance and acceptance of EMV Chip + PIN cards in Nigeria, leading to reduction of ATM fraud in Nigeria by over 95%
• The company enabled Nigerian banks and merchants for the first time ever to accept foreign cards at ATMs and Points of Sale and is 2011 Visa “LEADER” Award winner – for maintaining the highest Risk Management standard in sub-Saharan Africa.

About MasterCard Worldwide:
MasterCard(NYSE: MA), www.mastercard.com, is a global payments and technology company. It operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Conversations Blog and subscribefor the latest news.

L-R: Acceptance Director, West Africa MasterCard Worldwide, Kamil Olufowobi; Group Head, Business Development, Unified Payment Services, Miriam Imevbore; Country Manager, West Africa, MasterCard Worldwide, Omokehinde Ojomuyide; and Head of Department, Card Services, Unified Payments, Ben Edafiadjebre, during a signing ceremony between Unified Payments and MasterCard on the launch of Unified Payments Go-Live on MasterCard Third Party Processing in Lagos.