MasterCard to Drive Innovation in Nigeria's Payments Industry

MasterCard Worldwide announced that it will work with customer financial institutions and the government to bring more innovation to commercial transactions and payment solutions to Nigerian consumers. Vicky Bindra, president, Asia/Pacific, Middle East & Africa, MasterCard Worldwide, who was recently in Nigeria on a two day visit, shared this at a dinner in Lagos.

At the dinner, Bindra addressed an audience made up of top officials from Nigeria’s financial sector. He highlighted that MasterCard will work closely with governments across Africa to help build the payments infrastructure and facilitate the growth of e-commerce.

“MasterCard is committed to making it easier for you to grow your business. We are focused on providing you with a range of innovative payment solutions to cater to the immense growth opportunities in this market,” said Bindra.

MasterCard places its customers – banks and other financial institutions – at the core of its business strategy. This has transformed the organization into an advocate for its customers’ businesses aiming to add value as partners for mutual success. Besides delivering value to its customers and other stakeholders, MasterCard is also committed to the continuous promotion and advancement of electronic payments and the displacement of cash and cheques across the globe.

Bindra’s visit to Nigeria has come at a time when many of the market’s financial institutions are developing. This opens new business opportunities for the market’s financial institutions by helping them to do business effectively with other financial institutions all over the world. In addition, the financial institutions will be able to benefit by leveraging key MasterCard innovations in the Asia/Pacific, Middle East & Africa region.

While in Nigeria, Bindra also visited top government officials including the Minister of Finance, Dr. Mansur Muhktar, and Deputy Governors of Central Bank of Nigeria, Mr Tunde Lemo and Dr Sarah Alade.

Bindra, a Chartered Accountant and alumnus of the MIT Sloan School of management, joined MasterCard in 2009 when he was appointed President, Asia/Pacific, Middle East & Africa region. He brings with him many years of experience in banking and financial services, which will help enable MasterCard to drive innovation in Africa’s payments industry.