United Bank for Africa Mozambique (UBA) has introduced its first debit card on MasterCard platform in Mozambique, aimed to promote cashless transactions in the country.

MasterCard said that the electronic payment solution will deliver a quick, convenient and secure payment alternative for the Mozambicans.

Equipped with EMV Chip and PIN payment technology for enhanced security, the new debit card will allow users to debit their funds directly from savings or cheque accounts and reflect in real time.

UBA managing director Helder Chambisse said: “The introduction of the MasterCard debit card in Mozambique will allow our customers to carry out their banking transactions in a safer, more convenient and more reliable way.

“Our clients’ needs are constantly changing and as they change, we will continue to respond with intelligent technology solutions.”

MasterCard vice president and area business head of emerging markets Southern Africa Charlton Goredema said: “We share a vision of a world beyond cash, where all people are financially included into the economy.

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By GlobalData

“Introducing the first MasterCard in the country is a key milestone for us as we ramp up activity and investment in Mozambique. Importantly, we are also contributing to the financial freedom of individuals.”